3 Reasons Why Bajaj Auto Share Price Could Touch Nearly Rs 9500

CLSA has upgraded Bajaj Auto from "underperform" to "outperform," setting a price target of ₹9,493, implying a 10% upside. The upgrade follows a 32% stock correction over the past four months and the company’s strengthened position in the electric two-wheeler (e-2W) market, with a 25% market share as of December, driven by the launch of a more affordable Chetak variant. CLSA highlights improving prospects in the e-2W franchise and expects a 6% motorcycle volume CAGR for FY24-27CL, slightly trailing the industry's 8%. They also argue Bajaj Auto deserves a 10-20% premium multiple over its historical averages.

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