Tata Elxsi Post Q2 Results 2022-23 CMP 7204

Tata Elxsi Post Q2 Results 2022-23 CMP 7204

The near-term outlook for Tata Elxsi looks hazy in some segments and that creates a scenario where that disproportionate earnings growth period seems to be over for now at least. It might restart in a couple of years but it is over for now and because it is so highly valued and so over owned now.

Tata Elxsi Post Q2 Results 2022-23 CMP 7204

Brokerage Houses have slashed target price for Tata Elxsi and stock can ben seen drifting lower towards 6800 levels in coming weeks if prices do not make a recovery on back of institutional buying. The probability to this scenario of price jump seems unlikely with JP Morgan coming out with price target of 4300 on Tata Elxsi and Morgan Stanley with price target of 5800. ICICI Direct is running a price target of 5173.  Please note these are dynamic target levels and Brokerage houses may change their view in light of any new development ( adverse of better ) evolving in business environment of company.

It could be a long wait before things turn around for the company.

Sandip Sabarwal , ace fund manager had the below observations made in is recently held interview with economic times-

The near-term outlook for Tata Elxsi looks hazy in some segments and that creates a scenario where that disproportionate earnings growth period seems to be over for now at least. It might restart in a couple of years but it is over for now and because it is so highly valued and so over owned now.

Read full interview down below- 

https://m.economictimes.com/markets/expert-view/time-to-book-out-of-tata-elxsi-avenue-supermarts-sandip-sabharwal-answers/articleshow/94907899.cms

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