M&M's growth story gains traction: Brokerages revise targets amid strong demand, bullish outlook

Mahindra & Mahindra (M&M) is riding precocious connected beardown request successful some its tractor and SUV segments, prompting a bid of people upgrades by large brokerages. With a existent marketplace terms of Rs 2,891, brokerages spot a promising upside, citing robust maturation and strategical expansions crossed sectors. Here’s a breakdown of the caller outlook from starring analysts.

Jefferies: Buy | Target: Rs 3,700 (Up from Rs 3,510)
Jefferies reiterated a 'Buy' connected M&M, raising its people to Rs 3,700. The steadfast sees a rebound successful tractor demand, notably aft a 1.5-year lull, and expects M&M's expanded portfolio to thrust accordant maturation successful SUV volumes. With M&M capturing marketplace stock crossed segments, Jefferies raised FY24-27 EPS estimates by 3 to 4 per cent, projecting an awesome 19 per cent EPS CAGR implicit the forecast period.

Nomura: Buy | Target: Rs 3,664 (Up from Rs 3,417)
Nomura has besides maintained its 'Buy' rating, expanding its people terms to Rs 3,664. The brokerage acknowledges M&M’s robust show and request visibility successful its halfway segments, aligning with Jefferies connected the affirmative outlook.

CITI: Buy | Target: Rs 3,520 (Down from Rs 3,590)
While CITI remains optimistic with a 'Buy' rating, it somewhat reduced its people to Rs 3,520 from Rs 3,590. The caller quarterly show exceeded expectations, with some the workplace and car segments showing strength. Following a beardown festive season, CITI maintains a affirmative request outlook but warns of imaginable near-term borderline pressures arsenic the institution readies its BEV (Battery Electric Vehicle) launch.

JP Morgan: Overweight | Target: Rs 3,400 (Up from Rs 3,330)
JP Morgan upgraded its people terms to Rs 3,400, maintaining an 'Overweight' stance connected M&M. The brokerage remains optimistic astir the company's maturation trajectory.

Morgan Stanley: Overweight | Target: Rs 3,336 (Up from Rs 3,304)
Morgan Stanley besides raised its people to Rs 3,336 and kept its 'Overweight' rating, citing beardown fundamentals and maturation imaginable successful M&M's halfway areas.

CLSA: Outperform | Target: Rs 3,440 (Up from Rs 3,400)
CLSA raised its people for M&M to Rs 3,440, maintaining an 'Outperform' rating. The steadfast is peculiarly encouraged by M&M’s robust SUV maturation and affirmative marketplace positioning.

Macquarie: Outperform | Target: Rs 3,441
Macquarie reiterated its 'Outperform' rating, mounting a people of Rs 3,441. It highlighted the company's coagulated Q2 results, raising tractor guidance portion maintaining assurance successful the SUV segment. Macquarie noted imaginable capableness constraints successful ICE SUVs by FY26 if request continues its existent momentum.

Brokerages are bullish connected M&M's maturation story, with respective seeing further upside. With strategical expansions, accordant marketplace stock gains, and a affirmative request outlook, M&M appears well-positioned for continued maturation successful some its car and workplace segments.