Mahindra & Mahindra Finance Share Price Touches 52-Week High: View Analyst Opinions
Mahindra & Mahindra Financial Services (M&M Finance) stock touched 52-week high on Friday with market capitalization of the company reaching Rs 41,00 crore. While some investors may think that the stock is overvalued, the stock has already met the target given by research houses and market analysts. M&M Finance share price touched Rs 342 on Friday (June 30) and closed at Rs 336. The NBFC stock has a strong management team and their coverage in rural regions has been growing at an impressive pace. M&M Finance is also doing well in growing its loan book while keeping NPAs at low end compared to other NBFCs.
Target Price Met for majority of Analyst’s Calls
As per HDFC Securities ratings update on May 2, 2023, the stock was recommended with target price of Rs 300 (on that day, the stock was trading at Rs 266). The stock has already met the target price.
ICICI Securities gave target price of Rs 330 for the stock on May 5, 2023 and the target has been achieved. The price on day of recommendation was Rs 286.
IDBI Capital gave target price of Rs 310 for M&M Financial Services on 30 April 2023. The stock was trading at Rs 259 on that day.
Motilal Oswal gave target price of Rs 320 on 30 April 2023. The target has been met.
Prabhudas Lilladhar and ShareKhan also recommended the stock with target price of Rs 280 and 315 respectively in April 2023.
Investors in profit can book half of their profit on these investment Calls. The stock is still looking strong but if stock markets decline in the coming session, M&M Finance can also witness a correction. Some brokerages are still keeping a BUY rating for M&M Finance. Long term investors can hold the stock but for medium term investors, targets have been met.