Buy Bata India; target of Rs 584: Geojit BNP Paribas
Geojit BNP Paribas is bullish on Bata India has recommended buy rating on the stock with a target price of Rs 584 in its research report dated February 14, 2017.
Geojit BNP Paribas' research report on Bata India
We marginally increase our FY17E and FY18E revenue estimates by 3% each, factoring better than expected Q3FY17 and signs of demand pickup. PAT estimates have increased by 19% & 16% respectively on higher EBITDA margins. We rollover our valuations to FY19E, and revise upwards our target price to Rs 584 and upgrade to Buy.
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