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Bharat Forge shares hit new all-time high, should you invest?

Bharat Forge share Price: Shares of Bharat Forge, a leading manufacturer of Class 8 trucks, on Tuesday, December 13, gained almost 4 per cent in intraday to Rs 902, its new highest level, on the BSE. In fact, analysts are overwhelmingly bullish on the company. At an analysts' meet, the company's top management conveyed a strong outlook on the back of its investments in diversified businesses. The company aims to grow its presence in the Industrial, Electric and Aerospace segments as well as become a significant player in the core components space. Experts have given a target of Rs 1,000 for the stock. At the end of the session, the stock gained 2.70 per cent to close at Rs 892.70.

Bharat Forge's stock has gained 38 per cent in the last six months, about 22 per cent in a year.

What is brokerage say?

In the analyst meet, the management mentioned a strong growth outlook across segments, Prabhudas Lilladher Research Analyst Mansi Lal said in a note. Over the years, the company has shifted its focus from its traditional core business (Forging Components) to segments such as Defense, Aerospace, E-mobility, Casting, Light Weighting and Industrial. In this sequence, a target of 12-15 per cent CAGR growth in revenue has been fixed by FY2030. The brokerage has given a target of Rs 1,005 for the stock.

After the analyst meeting, ICICI Direct said in a report, 12-15 percent revenue CAGR in terms of growth expectations in Vision 2030, more than 20 percent EBITDA margin at the consolidated level, more than 30 percent dividend payout target Are included. On valuation, ICICI Direct has given a target of Rs 1,050 for the stock in its note.

Disclaimer: The views and investment advice expressed here are the personal views and opinions of investment experts. StockPro advises users to consult certified experts before making any investment decisions.

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