ICICI Direct has given Buy recommendation for Motherson Sumi with a target price of Rs. 270 in its research report issued on Aug 11, 2021
ICICI Direct’s research report on Motherson Sumi
Motherson Sumi (MSS) primarily serves global PV industry with wiring harnesses, vision systems (mirrors) & plastic body parts as key product lines. History of successful turnarounds in acquisitions and inorganic-led growth SMRPBV order book was at €15.6 billion as of FY21
We retain BUY rating on global PV premiumisation play, EV neutral products We value MSS at 30x P/E on FY23E basis for a revised target price of Rs 270 (earlier Rs 300).