ICICI Securities maintains ₹4,500 target for CEAT, citing price hikes
Business
ICICI Securities just gave CEAT Ltd. a thumbs-up, maintaining its stock target at ₹4,500 per share.
Its latest report highlights CEAT's smart price hikes and solid market presence as key reasons for this move.
The brokerage thinks these strategies will help CEAT bounce back on profits and grab more market share.
CEAT raised replacement prices 13%
CEAT kept its Q2 FY2027 performance steady, even with rising costs: commodity prices jumped 27% in six months, so CEAT raised its own prices by 13% in the replacement tire market (and more hikes are coming).
While there might be some short-term bumps from CAMSO, ICICI Securities is upbeat about CEAT's long-term growth and export potential.
They'll be watching demand trends closely going forward.