Cholamandalam Investment and Finance's June-quarter performance reinforced confidence among brokerages, with most highlighting healthy loan growth, stable margins and better-than-expected credit costs despite a seasonally weaker quarter. While some analysts remained cautious on valuations and macro risks, the broader view was that the lender continues to execute well across key operating metrics.ALSO READ: Cholamandalam Finance Q1 Results: Profit Climbs Over 45%, Total Income Up 22%; To Raise Rs 55,000 Crore Via NCDsBrokerages DecodeJefferiesMaintained Buy and raised the target price to Rs 2,100 from Rs 1,960.Said the June quarter delivered a profit beat, supported by broad-based business momentum.Highlighted healthy AUM growth across segments.Said margin outlook remains stable.Expects FY27 credit costs to come in below management guidance.Continues to rank Chola Finance among its top picks in the NBFC space.MacquarieMaintained Underperform with a target price of Rs 1,495.Described the June quarter as steady.Said operating leverage helped deliver an in-line performance.Noted that growth momentum remains intact and margins are defensible.Highlighted seasonal stress but said the loss trajectory is improving.Morgan StanleyMaintained Equal-weight and raised the target price to Rs 1,900 from Rs 1,720.Described the June quarter as a good one.Sharply raised FY27 forecasts, saying earlier estimates had been weighed down by macro concerns that now appear more manageable.However, said upside remains limited and growth could be relatively more vulnerable to macro risks and higher interest rates.CitiMaintained Buy and raised the target price to Rs 2,100 from Rs 1,945.Said growth, net interest margins and credit costs remained resilient during a seasonally weak quarter.Noted that the pace of seasonal asset quality deterioration remained slow, with credit costs in line with guidance.Expects net interest margins to remain above management guidance.Said operating expense growth is tracking asset growth as the company continues its investment phase.Chola Finance's Q1 PerformanceCholamandalam Investment and Finance reported a 45.5% year-on-year increase in net profit to Rs 1,656 crore, compared with Rs 1,138 crore in the corresponding quarter last year.Total income rose 22% year-on-year to Rs 8,957 crore from Rs 7,353 crore, reflecting continued business growth during the quarter.Separately, the company's board approved raising up to Rs 55,000 crore through the issuance of non-convertible debentures to support future funding requirements.ALSO READ: Oil Prices Jump Over 3%: Brent Crude Rebounds To $87 After Three-Day Slump As US-Iran Tensions Escalate