ICICI Direct has given Hold recommendation for Amber Enterprises with a target price of Rs. 3050 in its research report issued on May 16, 2022

ICICI Direct’s research report on Amber Enterprises

Amber is a leading solution provider for air conditioner OEM/ODM industry in India. The company has a product portfolio including RACs, RAC components and other non AC components • Derives ~50% of its revenues from RACs and the rest from components and mobility applications.


We change our rating on stock from BUY to HOLD. We revise our target price to Rs 3050/share and value Amber at 35x P/E FY24E EPS.

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