Outperform Eicher Motors Ltd. target Rs 28500 : Macquarie Capital Securities

Macquarie Capital Securities has an outperform call on Eicher Motors Ltd. with a target price of Rs 28500 .The current market price of Eicher Motors Ltd. is Rs 25111.05 Time period given by brokerage firm is year when Eicher Motors Ltd. price can reach defined target. The strong performance came from motorcycle segment. Royal Enfield EBITDA growth of 3 per cent was ahead of estimates. The Volvo Eicher Commercial Vehicles (VECV) saw the mixed performance as operating margin declined but the company managed to gain significant market share. Order intake for RE continues to be ahead of supplies despite 31 per cent growth in production. The RE has maintained production guidance at 675k units for FY17E.