Bajaj Auto Share Price Target: Stock Down 29% From All-Time High - Buy, Sell, Hold? Brokerage Views

From its 52-week high of Rs 12,772.15, the Bajaj Auto stock is down 29 per cent. On Thursday, November 28, the stock price of Bajaj Auto shares was Rs 9013.25 apiece. While a muted festive season is being attributed to the current underperformance of the Bajaj Auto share, brokerages are hopeful that the demand may pick up on the basis of guidance.

Bajaj Auto Share Price Target 2024

In its report dated November 27, Kotak Institutional Equities had a Sell rating on Bajaj Auto shares. At a time when Bajaj Auto's share price was Rs 9137, the fair price of the stock according to Kotak Institutional Equities was Rs 7225.

In a November 22 note, Sharekhan said that Bajaj Auto Maintained Results in line but downgraded the stock to 'hold' on weak management. According to Sharekhan, the target price of Bajaj Auto shares is Rs 12,584.

In a recent note on Bajaj Auto, JM Financial, while issuing a 'Buy' rating, made the following observations -

• The festive season started on a slower note. However, demand picked up significantly during the second half of the festive season leading to double-digit YoY growth for the industry. 
• Full-year guidance for domestic 2W volume growth stands at 6-8% for FY25 (high base in 4Q). Bajaj Auto expects to outperform the industry in the 125cc motorcycle segment.
• On the exports side, the company expects the recovery to continue. 
• The company expects 25-30% growth in the E2W industry in FY25. Improved charging infrastructure can support the growth momentum. The company plans to launch a new Chetak