Goldman Sachs has reiterated its “Buy” recommendation on Mahindra & Mahindra (M&M), setting a target price of ₹3,600, indicating a 27% potential upside from the current market price (CMP) of ₹2,826.45. The brokerage has also added M&M to its APAC Conviction List, emphasizing confidence in the company’s growth trajectory.
Goldman Sachs notes that M&M’s strong SUV order backlog positions the company for industry-leading growth compared to peers. Additionally, the upcoming battery electric vehicle (EV) launches are expected to further bolster M&M’s growth visibility in the automotive sector.
The brokerage projects robust growth metrics for M&M, with an expected EBIT CAGR of 20% and a Free Cash Flow (FCF) CAGR of 100% over FY25-FY27, driven by the company’s strategic initiatives and expanding product portfolio.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. Please consult a financial advisor for guidance on investment decisions.
