Moneycontrol
May 19, 2017 05:51 PM IST | Source: Moneycontrol.com

Buy Credit Analysis & Research; target of Rs 1755: Edelweiss

Edelweiss is bullish on Credit Analysis & Research has recommended buy rating on the stock with a target price of Rs 1755 in its research report dated May 17, 2017.

Buy Credit Analysis & Research; target of Rs 1755: Edelweiss

Edelweiss' research report on Credit Analysis & Research


Credit Analysis and Research’s (CARE) Q4FY17 standalone revenue growth of 1.5% YoY came 5% below estimate to INR 764mn and 6% for FY17. Revenue miss was on account of sluggish environment and low growth in bank credit, though volume growth was strong.


Outlook


On anticipated uptick in corporate bond market, riding government initiatives, improving macroeconomic outlook and higher budgetary allocation to infra & housing segment, CARE anticipates pick up in credit growth. Thus, we forecast 12% sales CAGR over FY17-19. We move to DCF-based valuation with TP of INR 1,755. Maintain ‘BUY’.


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