Buy Cox & Kings; target of Rs 227: Edelweiss
Edelweiss is bullish on Cox & Kings has recommended buy rating on the stock with a target price of Rs 227 in its research report dated November 29, 2016.
Edelweis's research report on Cox & Kings
We prune our FY17/18E EPS by 6% factoring in enhanced competition in Leisure India and impact of Brexit on UK operations. CNK staying on course in organic growth and debt repayment are key monitorables. We continue to value standalone/international businesses separately, assigning P/E multiples of 12.0x/9.0x on FY18E. We maintain ‘BUY’ with target price of INR 227.
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