Hold Cyient, target Rs 550 : Centrum Broking

Centrum Broking has Hold call on Cyient Ltd. with a target price of Rs 550 .The current market price of Cyient Ltd. is rS 499.5 The brokerage gave a year for Cyient Ltd. price to reach defined target. The brokerage said that after a few quarters of disappointment, the company delivered a solid positive surprise with its Q2FY17 results beating expectations on all fronts. Led by Q2 revenue beat, the brokerage raised its USD revenue growth assumption to 15.4% for FY17. It expects FY17 to remain strong and model 15.4% YoY growth.