Edelweiss is bullish on Suprajit Engineering recommended Buy rating on the stock with a target price of Rs 340 in its research report dated June 11, 2018.
Edelweiss' research report on Suprajit Engineering
Our recent interaction with Mr. Ajith Rai, Chairman & Managing Director, Suprajit Engineering (SEL), reinforces our conviction on its long-term prospects. Our optimism is anchored by: (1) SEL’s inorganic growth strategy to take advantage of the consolidation in the global ancillary space; (2) sustained momentum in automotive cables exports—management estimates revenue to jump 2x over FY18-21E; (3) Wescon’s expanding product basket & geographical footprint beyond US; and (4) resolution of Phoenix Lamps’ issues.
We believe, inorganic initiatives will continue to add value (five successful acquisitions ample testimony) as SEL further diversifies its customer and regional mix. Maintain ‘BUY’ with TP of INR340 (21x FY20E PER).
For all recommendations report, click here
Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.Are you happy with your current monthly income? Do you know you can double it without working extra hours or asking for a raise? Rahul Shah, one of the India's leading expert on wealth building, has created a strategy which makes it possible... in just a short few years. You can know his secrets in his FREE video series airing between 12th to 17th December. You can reserve your free seat here.