22/4/2025, 10:34:02 am

Bajaj Auto, Hero Moto downgraded, share price target cut by up to 37%

Jefferies downgraded Bajaj Auto to "hold" and Hero MotoCorp to "underperform," cutting price targets by 28% and 37%, respectively, amid revised EPS estimates. TVS Motor and Eicher Motors retained "buy" ratings with higher targets. The two-wheeler industry's competitive landscape has shifted, with TVS gaining market share and Hero's domestic share at a 20-year low.