Mid-term Pick: M&M
Published on Monday, October 12th, 2009 at 9:40 AMAuthor: stockalert (2026 Articles)
MARKET PRICE: Rs 897
Target price: Rs 1150
Strong volume numbers in both utility vehicles (driven by Bolero and Xylo) and tractors. We expect the company to report strong quarterly performance (60% PAT growth in Q2). In absolute term, the stock may appear to be fairly priced. But in comparison to peers, the stock still has some more upside left.
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