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Investing.com - Jefferies raised its price target on Mahindra & Mahindra Ltd (MM:IN) (OTC:MAHMF) to INR4,500.00 from INR4,300.00 while maintaining a Buy rating.
The upgrade follows Mahindra’s investor day where the company increased its FY25-30 tractor industry growth outlook from 7% to 9% CAGR.
Mahindra expressed optimism about a turnaround in Light Commercial Vehicle (LCV) demand following the GST cut and reiterated its strong launch pipeline for SUVs across both electric vehicles and internal combustion engines.
The company is working to expand exports while also focusing on unlocking the full potential of its IT and financial services divisions.
Jefferies noted that Mahindra is making efforts to deliver high growth in new ventures, which factored into the firm’s decision to maintain its Buy rating on the stock.
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