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BHARAT ELECTRONICS LTD (BEL)
PRICE: RS.2017 RECOMMENDATION: BUY
TARGET PRICE: RS.2400 FY16E P/E: 12.5X
Revenue outlook increased to 10% CAGR over the next five years.
EBITDA margins to remain stable, the management opines. But added
that margin can potentially expand if the company delivers on its targeted
revenue growth
In our previous update, we had downgraded the stock to "Reduce". Since
the price has corrected, providing upside from current levels. Post the
management interaction, we have made revisions to our earnings estimates.
We thus revise our rating from Reduce to BUY with a revised target
price of Rs 2400 (Rs 2100 earlier), thus valuing the stock at 14.8x FY16
earnings.
�� India Equity Research Reports, IPO and Stock News Visit http://indiaer.blogspot.com/ for complete details ��
��
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BHARAT ELECTRONICS LTD (BEL)
PRICE: RS.2017 RECOMMENDATION: BUY
TARGET PRICE: RS.2400 FY16E P/E: 12.5X
Revenue outlook increased to 10% CAGR over the next five years.
EBITDA margins to remain stable, the management opines. But added
that margin can potentially expand if the company delivers on its targeted
revenue growth
In our previous update, we had downgraded the stock to "Reduce". Since
the price has corrected, providing upside from current levels. Post the
management interaction, we have made revisions to our earnings estimates.
We thus revise our rating from Reduce to BUY with a revised target
price of Rs 2400 (Rs 2100 earlier), thus valuing the stock at 14.8x FY16
earnings.
�� India Equity Research Reports, IPO and Stock News Visit http://indiaer.blogspot.com/ for complete details ��
��
LINK
http://www.kotaksecurities.com/pdf/dmb/MorningInsight29092014vp.pdf
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