India's Syrma SGS Technology up; Jefferies initiates with 'buy'

Syrma SGS Technology

20/03/2024 06:28

** Shares of electronic products maker Syrma SGS Technology
 SYRM.NS  up 1.8% at 483 rupees, trimming gains after jumping
4.1% earlier in the day
    ** Stock on track to snap two consecutive sessions of
losses, if trend holds 
    ** Jefferies initiates coverage with "buy," PT of 640 rupees
per share
    ** Brokerage says the co's business is well-diversified with
clients across industrial, consumer electronics, auto, medical,
rail and others 
    ** SYRM's target P/E for March 2026 EPS is 38x, aligning
with historical trading averages - Jefferies
    ** Avg rating of 12 analysts close to equivalent of "buy,"
median PT is 604 rupees - LSEG data



    

 (Reporting by Navamya Ganesh Acharya in Bengaluru)
 ((Navamya.GaneshAcharya@thomsonreuters.com; +91 8805175330 ;))