Accumulate KNR Constructions; target of Rs 194: Geojit BNP
Geojit BNP Paribas has recommended accumulate rating on KNR Constructions with a target price of Rs 194 in its research report dated February 16, 2017.
Geojit BNP Paribas' research report on KNR Constructions
We increased FY17E and FY18E PAT estimates by 12% & 8% respectively, factoring better execution. Sound balance sheet and the earnings visibility keep KNR in premium valuation. We rollover our valuations to FY19E EPS at a PE of 14x and BOT projects at 1xP/B to arrive at SOTP target price Rs 194 with ‘Accumulate’ rating.
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