Eicher Motors on new high

Eicher Motors continues to surge higher. Today too, like the past couple of days, the stock is strongly in the green, up 4% at Rs.8029 levels but this is after hitting an intra day high at Rs.8100, a new 52-week high.

The stock has been zooming up to new highs ever since Credit Suisse put out a rating of “outperform” on the stock and putting out an aggressive 12-month target of Rs 9000. The foreign brokerage house expects the company to clock a near 50% CAGR  jump in its consolidated earnings.