Feb 16, 2017 12:57 PM IST | Source: Moneycontrol.com

Buy Adani Ports; target of Rs 321: Edelweiss

Edelweiss is bullish on Adani Ports has recommended buy rating on the stock with a target price of Rs 321 in its research report dated February 14, 2017.

Buy Adani Ports; target of Rs 321: Edelweiss

Edelweiss' research report on Adani Ports

APSEZ’s consol cargo volumes reported 8% YoY growth at 41MT (excluding 7MT of Australia cargo volumes) versus 38MT YoY. This was mainly driven by the company’s strategy to diversify cargo mix, resulting in growth in container volumes and liquid & other cargo of 26% and 19% YoY, respectively.

Outlook

Factoring in better volumes and margins, we raise our FY18E EPS by 2%. As we roll over to FY19E, we peg our revised TP at INR 344 (INR 321 earlier). We maintain ‘BUY/SO’.

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