Triveni Turbine shares have emerged as one of the standout performers in the Indian stock market over the past few years, delivering impressive returns to investors. Despite the significant rally post-COVID, some brokerage firms believe there is still upside potential in this multibagger stock. Motilal Oswal has issued a ‘buy’ recommendation with a target price of ₹540 per share, while Sharekhan has also assigned a ‘buy’ rating with a target price of ₹550 per share.
Motilal Oswal highlights the company’s financials, noting its current trading multiples and adjusted estimates to reflect higher costs associated with market expansion efforts. Despite potential risks related to order inflow growth and margins, the firm maintains a positive outlook, reiterating its ‘buy’ rating.
Sharekhan underscores the strong fundamentals of Triveni Turbine shares, emphasizing increasing traction in aftermarket services and exports, as well as favorable growth drivers in key export markets. With the stock trading at attractive multiples relative to its earnings projections, Sharekhan retains its ‘buy’ recommendation, setting a revised price target of ₹550.
Over the past month, Triveni Turbine shares have seen a 25% increase, with a 20% surge in the last six months and a 40% rise over the past year. The stock has witnessed significant growth since its post-COVID lows in March 2020, demonstrating a remarkable increase of 860% in nearly four years.
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