CLSA raises target price on M&M, here’s why
In our daily section, Standout Brokerage Report, we look at a report by CLSA on Mahindra & Mahindra stock. CLSA has sharply raised a target price on Mahindra & Mahindra to Rs 1,220 versus their earlier target price of Rs 1,090.
CLSA has sharply raised a target price on Mahindra & Mahindra to Rs 1,220 versus their earlier target price of Rs 1,090.
CLSA believes that the sharp turnaround in consolidated earnings and RoE has driven this re-rating on M&M. They are estimating consolidated RoE to rise from 9 percent from FY21 to up to 16 percent by FY23.
In terms of core businesses, they expect a strong earnings growth both for farms and autos with a consolidated CAGR of 20 percent over the next two years.
Watch the accompanying video of CNBC-TV18’s Nimesh Shah for more details.
First Published: Dec 15, 2021 10:03 AM IST
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