This Midcap Stock Trading 0.7% Away From 52-Week Low, "Buy" For 40% Upside, Says Axis Securities

Axis Securities suggests "BUY" Amber Enterprises Inida Ltd, a midcap Consumer Durable sector stock. The brokerage has assigned a Target Price of Rs 2,580/share to the stock. With the given target price by Axis Securities, the stock purchased today at the current market price is likely to give a healthy return of up to 40%. It has a market capitalisation of Rs 6,251.20 crore.

Stock Outlook & Potential Upside

The stock's current market price on NSE is Rs 1,855.90/share. The stock is trading 0.7% up from its 52 week low. The stock's 52 week low is Rs 1,843/share that it hit on 19 January 2023. Its 52 week high is Rs 4,025.95/share, recorded on 2 May 2022.

The stock has fallen continuously in the past 1 year. It fell 1.82% in the past 1 week, 3.05% in the past 1 month, and 8.2% in the past 3 months, respectively. In the past 1 year, it has fallen 44.2%. However, it gave 13.44% positive return in 3 years and 65.71% positive return in the past 5 years.

 

Buy for a Target Price of Rs 2,580/share

Axis Securities said, "We expect Revenue/PAT CAGR of 27%/31% over FY22-FY25E and gradual EBITDA margin improvement over this period. We roll forward our estimates to FY25E and value Amber at 34x FY25E EPS of Rs 75.8 and arrive at the TP of Rs 2,580/share (vs. 3,000/share earlier) and maintain our BUY rating on the stock."

 

Disclaimer

The stock has been picked from the brokerage report of Axis Securities. Greynium Information Technologies, the Author, and the respective Brokerage house are not liable for any losses caused as a result of decisions based on the article. Goodreturns.in advises users to consult with certified experts before making any investment decision.