Bharat Forge stock: BofA downgrades to underperform, cuts target to Rs 1,100

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:

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  • 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.