
Bank of America (BofA) has downgraded Bharat Forge to underperform from neutral, lowering its target price to ₹1,100 from ₹1,450. The downgrade comes as the brokerage highlights challenges in the company’s core business.
Key concerns highlighted by BofA:
- Slowing demand: Bharat Forge is facing headwinds in its core business segments, including Class 8 trucks, global passenger vehicles, and Indian trucks, which are showing range-bound performance.
- Global pressures: Weakness in export markets is expected to impact the company’s revenue growth in the near term.
BofA’s report reflects a cautious outlook for Bharat Forge as it navigates through a challenging macroeconomic environment.
Disclaimer: This article is for informational purposes only and does not constitute financial advice.