JPMorgan has maintained an ‘Overweight’ rating on Bharat Forge, setting a target price of ₹1,270, indicating a 19% upside from the current market price of ₹1,068.95 (as of March 11). The brokerage remains optimistic about the company’s growth prospects in aerospace, exports, and the US commercial vehicle (CV) market.
JPMorgan highlighted that India’s CV revenue is expected to remain flat in FY26, but US CV revenue is likely to get a boost in the second half of FY26 due to pre-buying ahead of emission norms changes. Additionally, Bharat Forge’s global subsidiaries are witnessing growth in the US, while its European business remains under evaluation. The company’s passenger vehicle (PV) exports and domestic revenues are projected to grow in FY26, adding to its overall expansion.
Another key driver is the aerospace and castings business, which JPMorgan expects to double in size over the next 3-5 years. The brokerage also noted that interest cost reduction from a subsidiary equity infusion will further support profitability.
Bharat Forge’s share price closed at ₹1,068.95 on Monday, reflecting investor interest in the stock. Analysts believe that the company’s diversified growth strategy, coupled with strong execution in high-margin sectors like aerospace, could drive further upside.
Disclaimer: The above stock recommendations are based on brokerage reports and do not constitute financial advice. Investors are advised to conduct their own research before making investment decisions.
