JPMorgan has upgraded KPIT Technologies to ‘Overweight’ from ‘Neutral’ with a target price of ₹2,000, indicating a potential upside of 20% from its current market price of ₹1,673. The stock has underperformed in the last one and three months due to delays in EV targets by global OEMs.
However, companies like BMW and Honda remain committed to long-term EV goals, making KPIT a top pick in the ER&D sector. JPMorgan also raised its revenue and EPS estimates for the company.
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