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Last Updated : Sep 18, 2018 03:57 PM IST | Source: Moneycontrol.com

Buy Suprajit Engineering; target of Rs 340: Edelweiss

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.

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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.


Outlook


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


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First Published on Jun 12, 2018 02:43 pm
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