Credit Suisse is positive on FY19 tractor demand & margin expansion across multiple segments.
Moneycontrol News
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Shares of Escorts gained around 2 percent intraday after Credit Suisse maintained its outperform rating on the stock with a target of Rs 1,040.
Credit Suisse is positive on FY19 tractor demand & margin expansion across multiple segments. It expects earnings CAGR of 25 percent over FY18-20. Further, it expects earnings CAGR of 25 percent over FY18-20.
Offtake has been strong even in January, usually a lean month, it said, adding that dealers are expecting the momentum to continue for the next few months.
Dealers acknowledge positive changes in company’s functioning over past few years.
The brokerage prefers Escorts on tractor demand, margin expansion and attractive valuations.
