Edelweiss is bullish on Tejas Networks has recommended buy rating on the stock with a target price of Rs 396 in its research report dated June 18, 2018.
Edelweiss' research report on Tejas Networks
We recently attended Tejas Networks’ (Tejas) analyst day. Key takeaways: 1) strong demand for the company’s products spearheaded by private operators’ sharpening focus on fiberisation & network capacity upgrades and government’s investments in the Bharatnet project; 2) Tejas is gaining good traction in targeted geographies—South East Asia, Africa & MENA and North America; 3) it is developing products to ride the demand from 5G upgrade; and 4) the company is targeting specific applications leveraging its strength in converged products.
Outlook
We believe, Tejas’ business model is well suited to benefit from strong order flow led by burgeoning fiber investments. Maintain ‘BUY’ with target price of INR396.
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