ICICI Direct starts GEE coverage with Buy, ₹170 target price
In short
ICICI Direct began covering GEE Ltd with a Buy rating and a ₹170 target price, a report said. That target implies 37% upside from the ₹124 share price, and the stock had already risen 86% in six months.
The broker thinks growth can come from better capacity use, more production, and specialised products. The report does not say whether the stock will reach the target or what could stop it.
What the reporting says
ICICI Direct initiated coverage on GEE Ltd with a Buy rating and a ₹170 target price, implying 37% upside from ₹124, according to a Mint Markets summary. It expects the small-cap stock to benefit from higher capacity utilisation, expanded production and specialised products, with revenue projected at ₹614 crore and net profit at ₹36 crore by FY28. The underlying assumptions and timing of any re-rating remain uncertain.
Why it matters
ICICI Direct initiated coverage on GEE Ltd with a Buy rating and a ₹170 target price, versus a ₹124 share price, implying 37% upside. The summary says the brokerage expects growth from higher capacity utilisation, expanded production and specialised products, with revenue forecast at ₹614 crore and net profit at ₹36 crore by FY28. The investment case is based on analyst estimates, not company guidance.