JLR to meet sales expectations: BofA Merrill Lynch


Jaguar and Land Rover (JLR) are likely to meet are full-year sales expectation of 363,000 units in FY13 and sustain the sales momentum, says global brokerage Bank of America Merrill Lynch.

"This will be driven by a slew of products with far more market potential and improved pricing than anticipated earlier. We therefore raise our profit estimates by 15-25 per cent over FY14-15," says BofA Merrill Lynch analysts in a note to clients.

"JLR has chalked out an extensive investment plan spanning next five years towards product development, expansion of existing facilities, and new projects (engines, assembly units). We expect 11.3% volume CAGR over FY13-15E, which is about 2x global car industry estimates," BoA ML said.