Eicher Motors Ltd (EML) manufactures motorcycles and accessories under the Royal Enfield brand. Eicher motors reported an 18.8% YoY revenue growth, reaching Rs. 4,888cr. The company’s financial performance has been robust, with EBITDA increasing 10.2%. We have upgraded our rating on the stock from HOLD to BUY, with a rolled forward target price of Rs. 5,665 based on the sum-ofthe-parts (SOTP) valuation. The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. The website advises users to check with certified experts before taking any investment decisions. For all recommendations report, click here Related stories Buy Jyothy Labs; target of Rs 395: Geojit Financial Services Reduce IndusInd Bank; target. of Rs 850: ICICI Securities Buy Tata Communication;target of Rs 1840: IC ICI Securities