M&M auto sales will more than compensate tractor weakness: BofA

Merrill Lynch raises its target price for Mahindra & Mahindra to Rs 880 from Rs 825 and maintains the stock with a 'buy' rating.

hidden August 27, 2012 13:35:02 IST
M&M auto sales will more than compensate tractor weakness: BofA

Merrill Lynch raises its target price for Mahindra & Mahindra to Rs 880 from Rs 825 and maintains the stock with a "buy" rating.

MM auto sales will more than compensate tractor weakness BofA

Reuters

BoA-ML says it expects a 5 percent decline in tractor sales in fiscal 2012/13, but that will be "more than compensated" by growing auto sales in a note dated on Monday.

Given the reduced dependence on the tractor segment, the investment bank says Mahindra's shares should be trading closer to other four-wheel makers.

Mahindra shares last up 1.6 percent at Rs 774.40.

Reuters

Updated Date:

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