Elizabelle Pang, an analyst from DBS, reiterated the Buy rating on Suzuki Motor (SZKMF – Research Report). The associated price target is Yen2,300.00.
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Elizabelle Pang has given her Buy rating due to a combination of factors that highlight Suzuki Motor’s strong market position and growth potential. The company has reported a significant 11% beat in its 3QFY24 results, with an impressive year-over-year increase in profit and revenue, which exceeded market expectations. This performance has led to an upward revision of the company’s full-year profit guidance and EBIT margins, reflecting a positive outlook.
Furthermore, Suzuki Motor is strategically positioned to benefit from the burgeoning demand for battery electric vehicles (BEVs) in India, supported by government incentives and a forecasted compound annual growth rate of over 40%. The company’s recent product launches, including its first BEV motorcycle and SUV, along with its dominant market share in India, bolster its growth prospects. Additionally, Suzuki’s strong presence in Japan’s mini-car segment and its role as a key player in India’s automotive market further reinforce the Buy rating, with a raised target price of ¥2,300.
According to TipRanks, Pang is a 3-star analyst with an average return of 1.3% and a 55.81% success rate. Pang covers the Consumer Cyclical sector, focusing on stocks such as Tesla, General Motors, and Mercedes-Benz Group.
In another report released on May 8, Bernstein also maintained a Buy rating on the stock with a Yen2,400.00 price target.