Buy Hero MotoCorp; target of Rs 4009: Centrum
Centrum’s research report on Hero MotoCorp
Hero’s Xtreme 200R has been launched recently across India and the company has started dispatching the bike to dealerships in a phased manner. This bike is first among the new range of Hero’s premium motorcycles and marks Hero’ re-entry in the premium bike market. First launched in North Eastern states in July, recently the bike got launched across India in a phased manner at a price of Rs89,900 ex-showroom. Xtreme 200R is the most affordable bike in the 200cc segment. Our channel check with the dealers/experts indicates that the bike is getting positive response and consumers are happy with the bike’s performance after taking test drive. Towards the end of this month, people across India will start getting the delivery and we will have real performance check in sometime. However, considering the initial feedbacks, strong branding and attractive pricing, we believe that this bike should help the company to establish some ground in the lucrative premium bike market.
We maintain our Buy on Hero with a TP of Rs4,009.
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