Buy M&M; target of Rs 1360: Hem Securities

RELATED NEWS Sell M&M; target of Rs 955: IndiaInfoline ALSO READ See previous views by Hem Securities See what other Experts & Brokerages are saying about Mah and Mah See messages about Mah and Mah Mah and Mah BSE | NSE 10/02/12 Are Mutual Funds betting on Mah and Mah?

Hem Securities is bullish on Mahindra & Mahindra and has recommended buy rating on the stock with a target of Rs 1360, in its March 09, 2010 research report.

"Mahindra & Mahindra has posted good results and is on the positive track. The tractor sales are expected to increase in the coming months as the production is going to increase. This will increase the demand and in turn will increase the sales of the company. Company's market share has been increasing from 44.70%, a year ago to 55.60% till the month of December, 2009. Exports by the company have seen a tremendous jump. Presently the company is running at a P/E multiple of 15.85x to its TTM (trailing twelve months) EPS of Rs 70.86. We recommend BUY on the stock with a medium-term time horizon with a price target of Rs 1,360," says Hem Securities research report.

Disclaimer: The views and investment tips expressed by investment experts on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

To read the full report click on the attachment