Sharekhan Reiterates Buy Rating on Bosch, Sets Target Price at INR 35,968

Stock target Stock target for Bosch

Posted by admin on 2024-11-29 17:52:09 |

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Sharekhan has reiterated a Buy rating on Bosch with arevised target price of INR 35,968, following a Q4FY24 performance where EBITDAreached INR 557 crore, slightly below the estimate of INR 591 crore. Themanagement expects a 10-15% penetration of hydrogen internal combustion engines(ICEs) in the medium and heavy commercial vehicle (MHCV) market by 2030. Thestock currently trades at a P/E multiple of 36.1x and an EV/EBITDA multiple of26.5x based on its FY2026 estimates.

Sharekhan's positive outlook is driven by expectations ofincreased localization, higher content per vehicle, and emerging opportunitiesin alternative powertrains.

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