Motilal Oswal recommends CEAT with ₹3,734 target after Q2 beat
Business
Motilal Oswal is bullish on CEAT, recommending its shares with a target price of ₹3,734.
This comes after CEAT's Q2 earnings beat expectations, hitting ₹1.2 billion.
Even with rising raw material costs, the company boosted its profit margins by raising prices and managing costs smartly.
Motilal Oswal: CEAT FY2027 estimate +14%
Demand for CEAT tires remains strong in India, though growth might slow down later in FY2027.
Still, Motilal Oswal expects margins to stay steady and even improve into FY2028 thanks to smart pricing and expanding operations.
Reflecting their confidence, they've also raised their FY2027 earnings estimate for CEAT by 14%.