Cyient shares rocket 8% after investor day, but brokerages see up to 24% downside. Here’s why

Cyient shares jumped 8% after the IT services company outlined its growth and margin roadmap at its investor day. Management is targeting double-digit revenue growth and EBIT margins above 15% in the near term, while brokerages remained divided on the pace of recovery. Motilal Oswal retained its Sell rating, while Nuvama and PL Capital maintained Hold ratings with higher target prices.