Cyient Share Price Target: JP Morgan initiates coverage of IT major with 'overweight' rating - Check details

Cyient Share Price Target, Cyient Share Price Target by JP Morgan: Shares of Cyient Limited surged on Wednesday after brokerage JP Morgan initiated coverage of the IT major. The counter opened in green at Rs 2015.30 - a surge of over 2 per cent from the previous close of Rs 1973.20.

The scrip surged as much as 3.92 per cent to touch a high of Rs 2050.55. Last seen, the counter held firmly in green and was trading at Rs 1989.10 on the BSE.

Cyient Share Price Target by JP Morgan

The brokerage firm said that it initiated the 'overweight' coverage due to strong demand in the majority of its portfolio, margin execution and inexpensive valuations, providing re-rating potential.

Cyient Share Price Target - Rs 2600

Meanwhile, Zee Business Managing Editor Anil Singhvi picked Cyient Limited as his 'Stock of the Day'. Singhvi said investors should buy the stock with targets of Rs 1995, 2010 and 2025. The stop loss suggested by him for Cyient is Rs 1944.

Cyient Share Price - Long-term target

Also, Zee Business panellist Siddharth Sedani said that it is one of the best companies in the mid-cap IT space and that is why we have been recommending this stock for the last couple of years. 

"The long-term target for Cyient is Rs 2470 and the company has strong growth potential," Sedani said.

Cyient Share Performance

Cyient shares have given a return of over 109 per cent in one year. While the stock has given a positive return of 23 per cent in six months, it has given a multibagger return of over 200 per cent in three years.