Data Patterns shares gain 18% in 6 days; JM Financial raises target, sees more upside

Data Patterns shares climbed as much as 2.7 per cent to Rs 3,086 in Friday’s trade, compared to the previous close of Rs 3,003 on the BSE. The defence electronics stock has advanced 18 per cent over the last six sessions.

Riding on the recent rally, domestic brokerage JM Financial reiterated its ‘Buy’ call on the counter and raised its 12-month target price to Rs 3,505 from Rs 3,070 earlier. The revised target implies an upside potential of about 14 per cent from the current levels. Advertisement

JM Financial said it remains constructive on Data Patterns, citing its strong in-house design capabilities, a healthy order backlog, sustained focus on product development, robust EBITDA margin profile, and the government’s continued push for defence indigenisation.

The company delivered a sol