homevideos Newsmarket Newsstocks NewsBull Vs Bear: Nomura, Jefferies bullish on Bharat Forge; Morgan Stanley underweight
Bull Vs Bear: Nomura, Jefferies bullish on Bharat Forge; Morgan Stanley underweight
There are more bulls for Bharat Forge than bears, and the bears are bearish because of the valuations.
There are more bulls for Bharat Forge than bears, and the bears are bearish because of the valuations.
Nomura has upgraded Bharat Forge to a buy from neutral. They have raised the target price to Rs 924. According to them, there are a lot of medium-term upsides from the defence segment for import substitution and artillery guns. In the defence business, there is a potential of Rs 1,000 crore per year; and the US capex cycle is strong.
Jefferies has a buy with a target price of Rs 925. They see a big turnaround over FY22 to FY23.
However, on the bearish side, Kotak has said that the valuations are too expensive at 32 times FY23. They have a sell with a target price of Rs 485, although they believe that the business is still very strong.
Morgan Stanley has an underweight call with a target at Rs 571.
For more details, watch the video.
(Edited by : Dipika Ghosh)
First Published: Jun 7, 2021 10:28 AM IST
Check out our in-depth Market Coverage, Business News & get real-time Stock Market Updates on CNBC-TV18. Also, Watch our channels CNBC-TV18, CNBC Awaaz and CNBC Bajar Live on-the-go!
Odisha's new CM — who is Mohan Charan Majhi and what prompted the BJP to choose him
Jun 13, 2024 2:54 PM
Election 2024: 504 out of 543 newly-elected MPs are ‘crorepatis’ – Check 10 richest members in 18th Lok Sabha
Jun 12, 2024 9:55 PM
BJP to start nationwide organisational rejig, new party president to be elected soon
Jun 12, 2024 9:31 AM
New Lok Sabha Speaker to be elected in special 8-day session: Report
Jun 11, 2024 6:28 PM