Brokerages issued fresh stock calls on multiple companies on May 7, with upbeat commentary on Mahindra & Mahindra (M&M) and Coforge, while CAMS and Sunteck Realty saw cautious tones despite target price revisions.
Mahindra & Mahindra (M&M) drew strong support from several brokerages.
Motilal Oswal reiterated its ‘Buy’ rating with a target price of ₹3,482, citing better-than-expected Q4 performance. The brokerage expects 18% PAT CAGR over FY25–27, backed by rural demand recovery and product launches in the UV and tractor segments.
Citi maintained its ‘Buy’ rating on M&M, though it cut the target to ₹3,480 from ₹3,680, noting a strong EBITDA beat but lower non-operating income. Kotak Institutional Equities echoed similar sentiment, keeping a ‘Buy’ rating with a ₹3,500 target, expecting continued outperformance across all verticals.
Jefferies also retained its ‘Buy’ call on M&M, while revising its target down to ₹4,000 from ₹4,075. The brokerage noted that M&M delivered its 12th consecutive quarter of double-digit EBITDA growth and sees a 12% volume and 18% core EPS CAGR through FY25–28.
Coforge was another top pick. Jefferies upgraded its target price to ₹9,000 from ₹7,860, maintaining a ‘Buy’ rating after a 3.4% QoQ growth in constant currency revenues. The firm expects a 23% EPS CAGR from FY26 to FY28 and remains confident in the company’s growth outlook.
Indian Hotels Company received mixed reactions. Jefferies maintained a ‘Buy’ rating and lowered its target price to ₹980 from ₹1,000, citing in-line Q4 performance and a strong sector outlook. In contrast, Macquarie retained a ‘Neutral’ stance and cut its target to ₹820 from ₹840, flagging a pipeline reduction and EBITDA miss.
CAMS (Computer Age Management Services) came under pressure after Citi maintained its ‘Sell’ call on the stock. Despite hiking the target price to ₹3,055 from ₹2,985, the brokerage cited a 10% QoQ decline in core PBT and ongoing weakness in non-mutual fund segments. The stock closed at ₹3,807.
Meanwhile, Sunteck Realty continued to receive backing from Jefferies, which maintained its ‘Buy’ rating but reduced the target to ₹575 from ₹685. While pre-sales growth for FY25 was strong at 32%, the firm flagged delays in project completion and collections.
Disclaimer: This article is for informational purposes only and does not constitute investment advice. Investors are advised to consult their certified financial advisor before making any investment decisions.