Brokers bullish on Ashok Leyland shares

The Ashok Leyland (NSI:ASHOKLEY) share price has risen by 15.7% over the past month and it’s currently trading at ₹139.5. For investors considering whether to buy, hold or sell the stock, the question now is whether this price run will continue.

According to the company’s analysts, there are certainly reasons to think it will continue to perform well in the year ahead. In terms of trading recommendations, Ashok Leyland currently has:

• 21 Buy recommendations

• 2 Hold recommendations

• 1 Sell recommendations

This suggests that analysts are generally positive about the outlook.

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Researching beyond analyst forecasts

At its current price of ₹139.5, shares in Ashok Leyland are trading at a discount of -9.12% to its 52 week high price. The 1-year performance of the shares has been 12.2%.

While analyst forecasts can be a useful guide to what City 'experts' think about a stock's near term future, they can be unreliable. To get a better idea about the strengths and weaknesses of Ashok Leyland it's worth doing some investigation yourself. Indeed, we've identified some areas of concern with Ashok Leyland that you can find out about here.