Castings, Forgings & Fastners · BHFC
Castings, Forgings & Fastners
from 2,093 today
Reiterate Neutral with a TP of INR1,931 per share due to valuation factoring in most positives after the recent stock rally, despite defense, aerospace, and JSA remaining key growth drivers and US Class 8 cycle bottoming out.
Bharat Forge's consolidated EBITDA missed estimates on higher inflationary costs, but management commentary remains strong, supported by robust recovery in Class-8 truck demand, domestic CV momentum, and a growing order book in defence and aerospace. We upgrade to BUY with a revised target price of INR 2,400.
Ratings and target prices as published by each firm. Each summary condenses that firm's stated view in its own note and is attributed to it; no report text is reproduced.
