Hero MotoCorp Share is going to remain bullish tomorrow also, know what is the target
Hero MotoCorp (NSE: HEROMOTOCO), a leading two-wheeler manufacturer in India, is expected to continue its upward trend tomorrow with a positive outlook, according to the latest market analysis and news reports. The stock has been performing well in recent months, with a 1-year return of +6.75% and a 3-year return of +32.89%.
Main Points
For tomorrow’s intraday trading, Hero MotoCorp’s share price forecast and targets are as follows:
- Downside targets: 5744.35, 5761.5, 5727.2
- Upside targets: 5821.45, 5838.6, 5881.4
The stock is currently trading at ₹5,779 as of September 16, 2024, with a market capitalization of ₹115,577.5 Crore. The P/E ratio stands at 28.3, and the PB ratio is 6.5.
In the short-term, Hero MotoCorp’s share price forecast indicates an uptrend, with the nearest possible target at ₹5,791. However, if the trend reverses, a potential future target could be ₹5,447. For the mid-term, the forecast also suggests an uptrend, with possible targets of ₹5,791 or ₹5,894.55.
If the trend reverses, the stock could reach ₹5,151 or ₹4,920.25. Looking at the long-term forecast, Hero MotoCorp’s share price is expected to continue its upward momentum, with targets of ₹5,791 or even ₹5,894.55. However, if the trend reverses, the stock could reach ₹5,447, ₹5,151, ₹4,835, ₹4,513, ₹4,255, ₹4,025, ₹3,780, ₹3,451, ₹3,255, ₹2,974, or even ₹2,246.
In the latest quarterly results, Hero MotoCorp reported a consolidated net sales of ₹10,210.79 crore for the quarter ended June 2024, up 15.36% year-over-year. The company has also been paying dividends to its shareholders, with the latest interim dividend issued on February 17, 2023, and a final dividend on July 27, 2022.
According to the latest analyst recommendations, Hero MotoCorp has a consensus target of ₹5,489.70, representing a downside of -5.01% from the current price of ₹5,779.45. However, some analysts have a more positive outlook, with Geojit Financial Services having a target of ₹5,877.
Disclaimer: The information given in this article is from investment experts and brokerage companies, they do not represent Local Haryana. Before taking any investment related decision, you must consult a certified expert.
