Bitcoin price today: gains to $120k, near record high on U.S. regulatory cheer
Investing.com - Jefferies has lowered its price target on Sona BLW Precision Forgings (SONACOMS:IN) to INR515.00 from INR565.00 while maintaining a Buy rating on the stock.
The price target reduction follows what Jefferies described as a "weak" first quarter for the precision components manufacturer, with EBITDA falling 19% year-over-year, in line with Jefferies’ estimates.
The earnings decline was attributed to multiple factors including volume decline at a key OEM customer, constraints in rare earth magnets, and a slowdown related to tariffs, according to Jefferies.
Despite the near-term earnings visibility being characterized as weak, Jefferies highlighted several positive factors that could provide cushioning, including Sona BLW’s entry into the Chinese market, anticipated full benefits from a railway business acquisition, and the development of an alternate motor design to address rare earth constraints.
Jefferies has cut its earnings per share estimates for Sona BLW by 13-19% for fiscal years 2026 through 2028, while maintaining its Buy rating but noting it keeps the stock "low in pecking order."
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.