Jefferies initiated a Buy rating on Astra Microwave Products. The brokerage set a price target of Rs 2,055. This target implies a 19% upside from the current market price of Rs 1,733.
Astra Microwave operates as a leading private player in India's defense and space electronics sectors. The company is moving up the value chain within large defense programs to drive growth. Jefferies projects an earnings per share compound annual growth rate of over 25%. The firm also expects a return on equity exceeding 20%.
The analyst coverage comes ahead of the company's scheduled ex-dividend date on September 11, 2026.