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BofA Securities raises target price on M&M, here's why

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BofA Securities raises target price on M&M, here's why

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Bank of America Securities has raised the target price on Mahindra and Mahindra (M&M) to Rs 1,050 versus its earlier target of Rs 910.

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Bank of America Securities has raised the target price on Mahindra and Mahindra (M&M) to Rs 1,050 versus its earlier target of Rs 910.
According to the firm, M&M has a strong case for the valuations to narrow versus the peers. The company’s core business P/E at 11 times is at a 50 percent discount to its peers like Maruti Suzuki India and Escorts despite strong business segments and solid franchise.
The firm believes multiple levers can drive earnings and valuation uptick over 12-18 months.
Watch the accompanying video of CNBC-TV18’s Nimesh Shah for more details.
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