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Budget 2021

Associate Partners:

  • SMC
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  • Volvo

Moneycontrol

Budget 2021

Associate Partners:

  • SMCSamsungVolvo
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Buy Mahindra and Mahindra: target of Rs 872: Sharekhan

Sharekhan is bullish on Mahindra and Mahindra has recommended buy rating on the stock with a target price of Rs 872 in its research report dated January 01, 2021.

January 14, 2021 / 08:52 PM IST
 
 
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Sharekhan's research report on Mahindra and Mahindra


We believe these decisions are in line M&M’s commitment to achieve an 18% RoE by exiting loss-making subsidiaries and focusing on core businesses. We expect M&M to benefit from its leadership status in tractor space, strengthened position in LCV segment and steady market share gains in UV segment. Stock is attractively valued with a P/E multiple of 17.2x and EV/EBITDA multiple of 9x its FY2023E estimates; it trades at a discount to long-term average multiples.


Outlook


We maintain a Buy rating on M&M with unchanged price target of Rs. 872 considering key business decisions announced on January 1.


For all recommendations report, click here


Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies 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.

Broker Research
first published: Jan 5, 2021 02:41 pm

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