Eicher Motors shares get their highest price target with another 15% upside projection

Global brokerage firm Jefferies has maintained a 'Buy' rating on Eicher Motors while raising its price target to ₹8,000 per share from ₹6,925 earlier. This is also the highest price target on the Street.

The revised price target by Jefferies implies a potential upside of 15% from Friday's closing levels.

The brokerage wrote in its note that after a flat 12-month period, Royal Enfield registrations have accelerated, growing 14% year-on-year in H2FY25 and 23% in H1FY26.

Jefferies expects Royal Enfield to benefit from the ongoing premiumisation of the two-wheeler segment, while the toughest phase of competition appears to be behind the company.

According to Jefferies, the hourglass structure of the two-wheeler market, with a notable gap in the 200–300cc segment, offers a clear opportunity for Royal Enfield if it chooses to expand its portfolio below the Hunter model.

The brokerage has also upgraded its earnings per share (EPS) estimates for FY26-28 by 3-8%.

Out of the 41 analysts covering Eicher Motors, 21 maintain a 'Buy' rating, 14 recommend 'Hold', and six have a 'Sell' recommendation.

Shares of Eicher Motors were trading 0.20% lower at ₹6,951 on Monday, even as the stock has jumped 42% so far in 2025.