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Buy Cyient; target of Rs 1200: ICICI Direct

ICICI Direct is bullish on Cyient recommended buy rating on the stock with a target price of Rs 1200 in its research report dated January 24, 2022.

January 31, 2022 / 12:15 PM IST
 
 
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ICICI Direct's research report on Cyient

Cyient Ltd (Cyient) offers engineering & development services to aerospace & defence, transportation, E&U, communication and others. Cyient has 300 customers across 14 countries • Net debt free and healthy cash flow with OCF/EBITDA ~80%.

Outlook

We continue to remain positive and retain our BUY rating on the stock. We value Cyient at Rs 1,200 i.e. 18x P/E on FY24E EPS.