Bank of America (BofA) has reaffirmed its “Buy” rating on Mahindra & Mahindra (M&M), setting a target price of ₹3,600, which implies a 24% potential upside from the current market price of ₹2,900. The brokerage highlighted that the tractor cycle is showing signs of recovery, adding that the momentum in the SUV segment is likely to be sustained with upcoming EV launches.
BofA also pointed out that M&M’s “growth gems” are currently in a development phase, positioning the company well for future expansion in the evolving auto landscape.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. Please consult a financial advisor before making any investment decisions.
