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Accumulate Hero Honda, target to Rs 1055: Emkay

Posted on: March 21st, 2009 and is filed under Brokerage Recommendations.

Emkay Global Financial Services has downgraded its rating on Hero Honda Motors from buy to accumulate with a target price of Rs 1055 in its March 20, 2009 research report.

“We have upgraded our target price to Rs 1055, post the revision in our earnings estimates. While we maintain our positive view on the company, owing to the recent run up in the stock price, we have downgraded our rating from buy to accumulate,” says Emkay Global Financial Services’ report.

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