Geojit BNP Paribas is bullish on Asian Paints has recommended buy rating on the stock with a target price of Rs 1108 in its research report dated November 24, 2016.
Geojit BNP Paribas' research report on Asian Paints
We expect the volume growth is likely to get impacted due to the liquidity crunch. It seems that the recent correction in price has largely factored all the near term negatives. We value APNT at 37x (5yr. avg) P/E and roll our estimate to FY19E, with a target price of Rs 1,108. We upgrade our rating to ‘BUY’ from ‘Reduce’ as we believe that near term negatives are largely factored in the stock price.
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