Raymond James initiates QXO stock with Outperform rating on acquisition strategy
Investing.com - Macquarie initiated coverage on Syrma SGS Technology (SYRMA:IN) with an Outperform rating and set a price target of INR900.00.
The research firm cited Syrma’s strategic pivot, which has positioned the company for higher total addressable market (TAM)-driven revenue growth and improved margins through increased value addition from backward integration.
Macquarie expects Syrma to invest its recently raised capital into new products, geographic expansion, and mergers and acquisitions, which could enhance the company’s financial profile.
The firm believes these investments may prove current consensus estimates conservative and potentially lead to a re-rating of the stock.
Macquarie’s INR900 price target is based on discounted cash flow analysis and implies a 19x FY28E EV/EBITDA multiple.
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