Citi has maintained its ‘Buy’ rating on Endurance Technologies, setting a target price of ₹3,200, indicating a potential upside of up to 67% from the current market price of ₹1,918.00.
The brokerage notes that Q3 results were in line with expectations, while management continues to focus on business diversification through multiple strategic initiatives.
Key developments include:
- A new order to supply e-axle components to Valeo, expanding its EV-related offerings.
- A partnership with a Korean entity to manufacture 4-wheeler suspensions and struts.
- Growth in the 4-wheeler braking segment through a technical partnership with BWI.
- Signing a Share Purchase Agreement (SPA) to acquire a 60% stake in Stoferle entities in Germany, strengthening its global presence.
Additionally, Endurance is planning to set up a large R&D facility for suspension systems, signaling a long-term commitment to innovation and technological advancement.
Disclaimer: The above stock update is based on brokerage reports and company announcements. Investors are advised to conduct their own research and consult with a financial advisor before making any investment decisions.
