Sell Hero MotoCorp, target Rs 2305: Goldman Sachs
The phase-out of Maestro from July 2016 is likely not factor in May's volume decline. GS is of the view that steep decline in volumes is likely to raise concerns, and challenge optimism.
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| Updated: Goldman Sachs maintains sell on Hero MotoCorp with a 12-month target price of Rs 2305. The scooter volumes drop of 20 per cent QoQ basis after 5 months of stable volume growth.
The phase-out of Maestro from July 2016 is likely not factor in May's volume decline. GS is of the view that steep decline in volumes is likely to raise concerns, and challenge optimism.
Goldman sees increasing disconnect between wholesale, and retail sales data largely dues to dealer inventory rising to unsustainable levels.
The phase-out of Maestro from July 2016 is likely not factor in May's volume decline. GS is of the view that steep decline in volumes is likely to raise concerns, and challenge optimism.
Goldman sees increasing disconnect between wholesale, and retail sales data largely dues to dealer inventory rising to unsustainable levels.
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