Reports On Company: Elecon Engineering
| Elecon Engineering’s strong margin trend continues. It is a ‘tactical BUY’ for target price of Rs 874: Nuvama | |
| Company: | Elecon Engineering |
| Brokerage: | Nuvama |
| Date of report: | October 23, 2023 |
| Type of Report: | Result Update |
| Recommendation: | Buy |
| Upside Potential: | 12% |
| Summary: | We reaffirm our ‘tactical BUY’ rating, but raise the TP to INR874 (from INR777), valuing the stock at 25x FY25E P/E (from 24x FY25E P/E). We have tweaked our FY24 and FY25 estimates to account for a better margin performance. The stock is trading at 26x/22x FY24E/FY25E P/E |
| Full Report: | Click here to view full post with link to download pdf file |
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