Goldman Sachs predicts 21% upside in M&M, stock rises 2% to hit all-time high
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After the Q3FY25 results of Mahindra & Mahindra (M&M), reported on Friday, global brokerage firm Goldman Sacha raised its target price on the stock to Rs 3,800, up from an earlier Rs 3,700, while maintaining its ‘buy’ rating, indicating an upside of 21% for the same. Post this, the shares of M&M surged 2.45% to its new all-time high of Rs 3,276.30 on the BSE. The brokerage firm's positive outlook is underpinned by M&M's raised tractor guidance and expectations of sustained strength in tractor volumes through Q4FY25 and FY26. M&M's management has indicated confidence in the ongoing momentum of its tractor business, projecting healthy volumes in the foreseeable future. This positive outlook reinforces the company's strong position in the agricultural segment. Despite the optimistic tractor outlook, Goldman Sachs notes that EV (Electric Vehicle) contract margins are likely to keep margins range-bound for M...