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Buy ZF Commercial Vehicle Control; target of Rs 12,160: ICICI Direct

ICICI Direct is bullish on ZF Commercial Vehicle Control has recommended buy rating on the stock with a target price of Rs 12,160 in its research report dated September 08, 2022.

September 09, 2022 / 11:19 AM IST
 
 
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ICICI Direct's research report on ZF Commercial Vehicle Control

ZF Commercial Vehicle Control Systems India (ZFCV) (erstwhile Wabco India), now part of the ZF Group, is the market leader in the CV braking space and a technology-focused complete solutions provider. FY22 sales channel mix – OEM ~45%, aftermarket ~14%, exports ~41% • FY22 product mix: Sale of products ~91%, Services ~9%.


Outlook

We retain BUY on ZFCV amid cyclical upswing in CV space with ZFCV a key beneficiary, solutions in EV domain and advance technologies supporting its quest for content/vehicle increase. Upgrading our estimates, we now value the company at Rs 12,160 i.e. 54x P/E on FY24E EPS (earlier target price Rs 10,530).

More Info

At 11:15 hrs ZF Commercial Vehicle Control Systems India was quoting at Rs 10,143.80, up Rs 108.10, or 1.08 percent.

It has touched an intraday high of Rs 10,200.00 and an intraday low of Rs 10,042.55.

It was trading with volumes of 264 shares, compared to its thirty day average of 691 shares, a decrease of -61.77 percent.

In the previous trading session, the share closed up 0.63 percent or Rs 63.20 at Rs 10,035.70.

The share touched its 52-week high Rs 10,297.00 and 52-week low Rs 6,823.00 on 06 September, 2022 and 08 March, 2022, respectively.

Currently, it is trading 1.49 percent below its 52-week high and 48.67 percent above its 52-week low.

Market capitalisation stands at Rs 19,240.34 crore.

For all recommendations report, click here

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ZF Commercial Vehicle Control - 090922 - icici

Broker Research
first published: Sep 9, 2022 11:19 am

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