Hold Cyient, target Rs 760: ICICI Direct
Hold Cyient Ltd. at a price target of Rs 760.0 .
By ETMarkets.com | Updated:
ThinkStock Photos
ICICI Direct has a hold call on Cyient Ltd. with a target price of Rs 760.0 . The current market price of Cyient Ltd. is Rs 693.35 Time period given by the brokerage is Intra Day when Cyient Ltd. price can reach the defined target. Cyient Ltd., incorporated in the year 1991, is a midcap company with a market cap of Rs 7866.99 crore.
Investment rationale by ICICI Direct
Cyient reported Q1FY19 numbers wherein the performance was below our expectations on all fronts with a major let down on margins. Although the outlook for the business remains optimistic, an improvement in margin trajectory from hereon has to be watched. Hence, we maintain HOLD recommendation with a target price at | 760 (16x FY20E EPS).
Investment rationale by ICICI Direct
Cyient reported Q1FY19 numbers wherein the performance was below our expectations on all fronts with a major let down on margins. Although the outlook for the business remains optimistic, an improvement in margin trajectory from hereon has to be watched. Hence, we maintain HOLD recommendation with a target price at | 760 (16x FY20E EPS).
Too busy to trade in stocks? Invest in Mutual Funds with ET Money!
Bookmark or read stories offline -
Download ET Markets APP
Download ET Markets APP
ADVERTISEMENT
