Rows of Mahindra & Mahindra Ltd. XUV 500 sport utility vehicles (SUV) are parked in a stock yard. (Photographer: Kuni Takahashi/Bloomberg) 

Indian SUV Maker Gets Most Love From Analysts In 14 Years

Indian SUV Maker Gets Most Love From Analysts In 14 Years

Analysts have turned the most bullish on Mahindra & Mahindra Ltd. since May 2004 after India’s largest maker of sport utility vehicles and tractors posted robust May sales amid a recovery in rural demand. The stock has a buy recommendation from 98 percent of the 44 analysts that cover it, the highest among any company in the S&P BSE Sensex gauge. Mahindra’s shares have risen about 20 percent since Jan. 1, and analysts see a further 12 percent upside over the next year, according to data complied by Bloomberg.