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Buy Endurance Technologies; target of Rs 1065: Motilal Oswal

Buy Endurance Technologies; target of Rs 1065: Motilal Oswal
June 29
10:24 2020

Motilal Oswal is bullish on Endurance Technologies recommended buy rating on the stock with a target price of Rs 1065 in its research report dated June 26, 2020.

Motilal Oswal ‘s research report on Endurance Technologies

ENDU’s 4QFY20 performance miss was majorly due to the COVID-19 led lockdown. Miss in EU revenues and higher other expenses in India led to miss at adj. PAT level. ENDU continues to outperform the underlying 2W industry and this gap should widen further due to new customers and content increase. EU subsidiaries also continued to outperform the underlying EU PV industry. We have cut our FY21E EPS by 4%.to factor in the near-term weakness in the 2W industry.

Outlook

However, we have increased FY22E EPS by 8% to factor in the recovery and new order wins. Maintain Buy with TP of ~INR1,065 (23x Jun’22E EPS).


For all recommendations report, click here

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First Published on Jun 29, 2020 07:02 am

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