Jefferies bullish on this Indian midcap financial stock on attractive valuation
Live MintCMS Info appears poised to deliver 20% compound annual growth rate in revenue and 25% in profit over FY22-25, as per global brokerage Jefferies. Despite 40% rally since listing, the brokerage said that its valuation is inexpensive at 13x FY24 PE and stays among key midcap buys. CMS has also ramped-up well in Remote Monitoring Sols, where it plans to expand from ATM-RMS to broader services where yields & margins will be better,” the note stated. “Despite the 40% rally since listing, valuations are inexpensive at 13x FY24 PE and we see scope for re-rating aided by healthy growth and its sustainability,” it said while maintaining Buy rating on CMS Info Systems shares with target price of ₹390 apiece based on 15x Sep-24 EPS and sees strong earnings outlook and “valuation attractive.” “CMS has scaled-up the Remote Monitoring Solutions segment well with 18k active sites.
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