Several leading brokerage firms have revised their price targets for various auto and auto ancillary stocks in India. These revisions reflect the firms’ outlook on the performance and potential of these companies in the market. Let’s take a closer look at the revised targets for some of the prominent players in the Indian auto sector.
1. Bajaj Auto:
Nomura, a global financial services group, has maintained a ‘buy‘ rating for Bajaj Auto and raised its target to Rs 8,897 from Rs 6,119. JP Morgan, another prominent brokerage firm, has also maintained an ‘overweight‘ rating and increased the target to Rs 8,210 from Rs 6,400.
2. Tata Motors:
Nomura has maintained its ‘buy‘ rating for Tata Motors and raised the target to Rs 953 from Rs 788.
3. TVS Motor:
JP Morgan downgraded TVS Motor to ‘neutral‘ but raised the target to Rs 2,110 from Rs 1,830. Additionally, JP Morgan continued with a ‘neutral‘ rating and raised the target to Rs 3,615 from Rs 3,350. Moreover, JP Morgan maintained an ‘overweight‘ rating for TVS Motor and increased the target to Rs 4,950 from Rs 3,750.
4. Hero MotoCorp:
Nomura has continued with a ‘neutral‘ rating for Hero MotoCorp and set a target of Rs 3,505.
5. Bharat Forge:
Nomura has double downgraded Bharat Forge to ‘neutral‘ and provided a target of Rs 1,239.
6. Samvardhana Motherson International:
Nomura has double downgraded Samvardhana Motherson International to ‘neutral‘ and assigned a target of Rs 107.
FAQs:
1. What is the outlook for Bajaj Auto’s stock?
Nomura maintains a ‘buy‘ rating and has raised the target to Rs 8,897. JP Morgan also maintains an ‘overweight‘ rating with a target of Rs 8,210.
2. Has Tata Motors’ target price been revised?
Yes, Nomura has maintained a ‘buy‘ rating and increased the target to Rs 953.
3. What is the updated target for TVS Motor?
JP Morgan downgraded the stock to ‘neutral‘ but raised the target to Rs 2,110. They also maintained a ‘neutral‘ rating with a target of Rs 3,615 and an ‘overweight‘ rating with a target of Rs 4,950.
4. What is the target price for Hero MotoCorp?
Nomura has set a target of Rs 3,505 for Hero MotoCorp.
5. How has Bharat Forge been rated by Nomura?
Nomura has double downgraded Bharat Forge to ‘neutral‘ and set a target of Rs 1,239.
In conclusion:
The revised targets and ratings provided by leading brokerages reflect their assessments of the prospects for various auto and auto ancillary stocks in the Indian market. Investors can use these insights to make informed decisions regarding their holdings in these companies.