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Most analysts upbeat post Bajaj Auto's Q3 show, raise price targets
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Bajaj Auto gained 5.2% in a weak market on Thursday after the company’s profitability in the third quarter was higher than expected. Most brokerages upgraded their price targets on the stock after the results.
The upgraded average analyst price target on the stock stands at Rs 7,252.08, according to Bloomberg data, which is 4.6% lower than Thursday’s closing price of Rs 7,590.
Morgan Stanley said it is overweight on Bajaj Auto because of the replacement demand wave, export recovery, and positive prospects for Triumph, electric two-wheelers and electric three-wheelers. CLSA maintained its sell rating on the stock due to its expensive valuation and moderate volume growth.
About this in other media
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Bajaj Auto share price rallies over 2% after upbeat Q3 results; Should you buy, sell or hold the stock? livemint.com /10 months ago
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