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Hold TVS Motor, target of Rs 25: Reliance Money

Posted on: April 8th, 2009 and is filed under Brokerage Recommendations.

Reliance Money has recommended a hold rating on TVS Motor with a target price of Rs 25 in its April 8, 2009 research report. “We estimate TVS to report EPS of Rs 3.1 in FY10E on the back of improved margins and improved sales volumes.

At current market price of Rs 23.1, the TVS stock trades at a PE multiple of 19x and 8x on FY09E and FY10E estimated earnings. We recommend a HOLD with a target price of Rs 25,” says Reliance Money’s research report.

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