Amber Enterprises India climbs; CLSA raises TP on 'attractive' entry point

Amber Enterprises India

22/03/2024 09:28

** Shares of consumer durables maker Amber Enterprises India
 AMBE.NS  up 3.9%
    ** Stock extends gains to third consecutive session, set to
log weekly gains of 7%
    ** Brokerage CLSA says recent price correction in stock
makes it an attractive entry point
    ** Says weakness in broader market's near-term earnings is
overdone; medium-term growth prospects remain intact
    ** Upgrades rating to "buy" from "underperform", raises PT
to 4,300 rupees from 4,130 rupees earlier 
    ** New PT is second-highest among 19 analysts, and 25%
higher than the Street's median PT of 3,430 rupees - LSEG
    ** Avg recommendation on stock is "hold", below peers
Crompton Greaves  CROP.NS , Blue Star  BLUS.NS  which are a
"buy"
    ** Including session's gains, stock is up ~32% YTD

 (Reporting by Manvi Pant in Bengaluru)
 ((Manvi.Pant@thomsonreuters.com; +918447554364;))