Top brokerages cut targets on Mahindra & Mahindra, Bajaj Auto, Hero MotoCorp, Maruti Suzuki - here is what they recommend
Goldman Sachs maintains a buy on Maruti shares but has reduced the price target to Rs 10,600 from Rs 11,250. The stock recommendation was made at Rs 8,461
Top brokerages have cut price targets of auto stocks Mahindra & Mahindra, Bajaj Auto, Hero MotoCorp and Maruti Suzuki. This is what they have recommended:
Maruti Suzuki | Buy
Goldman Sachs maintains a buy on Maruti shares but has reduced the price target to Rs 10,600 from Rs 11,250. The stock recommendation was made at Rs 8,461. Meanwhile, JP Morgan has maintained a ‘Neutral’ rating and has cut the target to Rs 8,310 from Rs 8,700.
Maruti Suzuki shares were trading at Rs 8,408 on the NSE at 12:30 pm and were down by Rs 53.10 or 0.63 per cent from the Thursday closing price.
Mahindra & Mahindra | Buy
Goldman Sach has cut its price target on M&M shares to Rs 1,550 from Rs 1,640. The stock was recommended at Rs 1,253. It retains a buy on this stock. Meanwhile, JP Morgan has reduced its target by Rs 75 per share to Rs 1,500 while maintaining an ‘Overweight’ rating.
Bajaj Auto |Buy
Goldman Sachs has cut the price target to Rs 4,300 from Rs 4,500 while maintaining a buy on this stock. Meanwhile, JP Morgan, which retains a ‘Neutral’ rating on the counter has cut price target to Rs 3,865 from Rs 4,155. The stock was recommended at Rs 3621.
Bajaj Auto shares were trading at Rs 3,610.90 around this time and were down by Rs 10.25 or 0.28 per cent.
Hero MotoCorp | Sell
Brokerage firm Goldman Sachs has recommended a Sell on Hero MotoCorp shares and cut the target to Rs 2,100 from Rs 2,150. The stock was recommended at price of Rs 2,767. However, JP Morgan remains ‘Overweight’ and has increased the target to Rs 3,095 from Rs 2,965.
Hero Moto shares were trading at Rs 2,752.25 around this time and were down by Rs 14.90 or 0.54 per cent.
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Goldman Sachs maintains a neutral stance on TVS Motor and has cut its target to RS 1,030 from Rs 1,070. The stock was recommended at price of Rs 1030. Meanwhile, JP Morgan maintain Overweight stance, cutting target to Rs 1,200 from Rs 1,250.
However, Macquarie maintains Outperform rating with a price target of Rs 1,260.
TVS Motor shares were trading at Rs 1,021 around this time and were down by Rs 9.20 or 0.89 per cent.
(Disclaimer: The views/suggestions/advises expressed here in this article is solely by investment experts. Zee Business suggests its readers to consult with their investment advisers before making any financial decision.)
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