Systematix has recommended accumulate rating on Igarashi Motors India with a target price of Rs 875 in its research report dated February 09, 2017.
Systematix's research report on Igarashi Motors India
We expect CY17 to be a moderate growth year, with 15% volume growth and growth acceleration to start from CY18 on new capacity and orders. We estimate motor volume and profitability to grow >=2x in the next four years, with upcoming programs and application diversification. We maintain a positive stance, with an Accumulate rating and a target price of Rs 875.
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