“Bullish on TVS Motors with a target price of ₹5,425 per share, representing a 23.6% upside. Jefferies assumes an 8% industry CAGR and 14% CAGR for TVS' exports over FY26-29, expecting strong 13% volume and 24% EPS CAGR over the same period. The firm believes the stock's rich 44x FY27 estimated P/E is justified by its rising franchise and strong growth outlook.”

Jefferies Analysis’s track record: 3 graded calls · 95% CI 44–100%