Geojit BNP Paribas is bullish on Ashok Leyland has recommended buy rating on the stock with a target price of Rs 92 in its research report dated December 01, 2016.
At CMP AL is trading at P/E of 18.3x & 14.6x on FY17E & FY18E. Considering the near term headwinds on earnings, we lower our valuation to 18x (Previously 20x) FY18E EPS with a revised target price of Rs 92 and maintain buy rating.
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