M&M shares jump 8% to record high as target prices raised up to Rs 2,910. Should you buy, sell or hold?

M&M achieved a new 52-week high of Rs 2,554.75 following better-than-expected March quarter performance, prompting increases in target prices and upgrades. Jefferies, a global brokerage firm, upgraded M&M to a buy rating and raised the target price to Rs 2,910.