India's KPIT Technologies rises; JP Morgan sees 42% upside in 12 months
03/12/2024 07:31
** KPIT Technologies KPIE.NS , which provides software to
auto industry, rises 6.1% to 1,422.4 rupees; set to snap
three-session losing streak
** J.P. Morgan maintains "overweight"; retains PT of 1,900
rupees, implying a 42% upside over the next 12 months
** Expects KPIE to rise again, log fastest rev growth in its
coverage of tech companies over FY24-FY27
** Says exposure to automotive vertical, EVs to boost
earnings
** KPIE down ~18% since October on lowering FY25 rev outlook
** Stock rated "buy" on avg, median PT is 1,850 rupees -
LSEG
** KPIE down 5.7% YTD
(Reporting by Bharath Rajeswaran in Bengaluru)
((bharath.rajeswaran@thomsonreuters.com; +91 9769003463;))
Recent news on KPIT Technologies
See all newsIndia Stocks: Indian shares rise as gains in auto, financials outweigh IT losses
Brief: KPIT Technologies Expects Q2FY27 Revenue To Be In Line With Q1FY27 Revenue
India's KPIT Technologies drops after weak outlook
Brief: KPIT Technologies Says Operating Profitability, Net Profit Margin For Q1FY27 To Decline Sequentially
Brief: KPIT Technologies Expects Financial Performance For Q1 FY27 To Be Lower Than Expected