Bajaj Auto: Analyst meet takeaways :: Kotak Sec, report link

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Analyst meet takeaways. We attended the annual meet organized by Bajaj Auto for
analysts and investors. The company outlined its strategy for its various businesses. We
believe the export strategy is well thought out and the company is reaping dividends of
excellent channel development, improving service levels and right products for the right
market. However, the company seems to be confused on how to get back in the
domestic market. We retain our ADD rating on the stock as we believe strong growth in
export markets is likely to continue. Revise target price to `2,650 (from `2,800 earlier).

LINK
http://www.kotaksecurities.com/pdf/indiadaily/indiadaily22122014al.pdf