Broker ICICI Securities Upgrades Stock Eureka Forbes to Buy with target of ₹660

Status: Pending

Age: New (14/08/2025)

TRACK

Brokerage

ICICI Securities

Analyst

Brokerage Team

Position

Bullish

Start Date

14/08/2025

Horizon

Mid Term

Target Price and Expected Returns

Start Price

₹560.65

Target Price

₹660

Expected Returns

17.7%

Summary

ICICI Securities is bullish on Eureka Forbes, recommending a buy rating with a target price of ₹660. The prediction is based on strong financial performance across various product businesses despite subdued demand.

ICICI Securities's justification for Eureka Forbes target price prediction

Eureka Forbes reported strong growth in product businesses for the 7th consecutive quarter.
Water purifiers and vacuum cleaners showed double-digit growth.
Service business continued its momentum with double-digit growth in service bookings.
Upcoming R&D center supports innovation.
Margin expansion is driven by operating leverage and cost optimization.

ICICI Securities reports strong set of numbers for Eureka Forbes, despite a subdued demand backdrop, and recommends a buy rating with a target price of ₹660.

Sources:

https://www.moneycontrol.com/

Tags:

Brokerage Team, Bullish, Eureka Forbes, ICICI Securities, stock_prediction

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