Status: Pending
Age: New (01/01/2001)
Broker Anand Rathi Upgrades MM Forgings to Buy with target of ₹430
Brokerage
Anand Rathi
Analyst
Brokerage Team
Position
Bullish
Start Date
01/01/2001
Horizon
Short Term
Target Price and Expected Returns
Start Price
₹319.00
Target Price
₹430
Expected Returns
34.8%
Summary
Anand Rathi is bullish on MM Forgings, recommending a buy rating with a target price of ₹430.
Anand Rathi's justification for MM Forgings target price prediction
- Q1 EBITDA slipped 13%YoY to Rs625m due to higher other expenses.
- Domestic M&H CV sales growth expected at 4% CAGR FY25-28.
- The overseas CV sector expected to rebound FY27/28 due to low base and early buying.
- Revenue expected to grow at a faster rate than the industry.
- Stock currently undervalued.