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Investing.com - JPMorgan raised its price target on Bharat Forge (BHFC:IN) stock to INR1,255.00 from INR1,145.00 while maintaining a Neutral rating following the company’s second-quarter fiscal 2026 results.
The company’s consolidated results for 2QFY26 exceeded both JPMorgan’s and consensus expectations, primarily due to stronger-than-anticipated margin performance across Bharat Forge ’s subsidiaries.
Despite facing continued headwinds in North American and European exports, Bharat Forge has offset these challenges through faster-than-expected margin expansion in both its overseas and Indian subsidiaries, particularly in defense and castings operations.
JPMorgan has increased its FY26-28E revenue forecasts for Bharat Forge by 3-6%, citing two key factors: earlier than anticipated consolidation of the recently acquired American Axle business, and accelerated ramp-up of the company’s US aluminum business.
The investment bank’s standalone numbers for Bharat Forge remain largely unchanged, as fiscal year 2026 continues to face uncertainty in the export market.
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