Macquarie Capital Securities has an outperform call on Eicher Motors Ltd. with a target price of Rs 28500. The current market price of Eicher Motors Ltd. is Rs 22257.95 . Time period given by analyst is a year when Eicher Motors Ltd. price can reach defined target. Strong performance in Q2 along with Royal Enfield EBITDA growth 3 per cent which was ahead of estimates supports the outperform rating. VE Commercial Vehicles saw a mixed performance. The company gained significant market share, but operating margin declined. The order intake for RE continues to be ahead of supplies despite 31 per cent growth in production. RE has maintained production guidance at 675k units for FY17E.