CLSA has upgraded its rating on Samvardhana Motherson to outperform, with a revised target price of ₹190, implying a 16% potential upside from the current market price (CMP) of ₹163.90. The company’s EBITDA came in below CLSA’s expectations, with a 106 basis points margin shortfall.
CLSA notes that the benefits of recent inorganic growth initiatives are yet to be reflected following the company’s recent fundraise. The brokerage anticipates that these factors will enhance Samvardhana Motherson’s performance in the near future.
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