Systematix is bullish on Ahluwalia Contracts has recommended buy rating on the stock with a target price of Rs 353 in its research report dated February 17, 2017.
Systematix's research report on Ahluwalia Contracts
But we revise upwards PAT estimates for FY17e-19e by 1-6% to account for healthy EBITDA margins of 13.6% and lower interest cost due to continuous debt (Rs 980mn) reduction from here on. We maintain a Buy rating, with a revised target price of Rs 353, based on 18x Sept ’18 earnings (Rs 340 earlier).
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