ICICI Securities is bullish on Samvardhana Motherson International recommended buy rating on the stock with a target price of Rs 98 in its research report dated July 05, 2023.
Japanese brokerage firm Nomura upgraded the stock by two notches to buy and set a target price that has the potential to deliver another 17% returns from the current levels. "Believe this is a good acquisition," said Nomura in a note to clients. "See high potential of sunroof systems and entry into Japanese customers. Further upside can come from ability to add customers across Japan, US & EU."
Samvardhana Motherson hit a 52-week high on Wednesday, and has kept up with its run on Thursday.Yachiyo acquisition will have an earnings upside say brokerages
The analysts said that they found the price at which it was acquired also more attractive compared to earlier acquisitions such as SAS Autosystemtechnik
The company has entered into a partnership with Honda Motor under which it will form an 81:19 strategic partnership with the latter where both partners will drive the company towards a strong and sustainable future