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Hero Honda an underperformer: FinQuest Securities

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

FinQuest Securities has rated Hero Honda Motors as an underperformer in its January 21, 2009 research report. “The company increased its EBITDA margins in 3QFY09 as well as 9MFY09 due to decline in key commodity prices mainly in 3QFY09. We believe valuations are rich and 3QFY09 results doesn’t instill much confidence of higher growth in FY10.

We have Underperformer rating in the stock,” says FinQuest Securities’ research report.

source: Moneycontrol

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