Edelweiss is bullish on Deepak Fertilizer has recommended buy rating on the stock with a target price of Rs 308 in its research report dated February 13, 2017.
Edelweiss' research report on Deepak Fertilizer
However, with commissioning of new complex fertiliser plant, higher chemical margins and gas issues getting addressed, we expect DFPC to record earnings CAGR of 39% over FY17-19. With growth coming back and return ratios back on uptrend, we raise our target multiple to 9x FY19E (from 6x) and arrive at TP of INR 308 (INR 190 earlier). Maintain ‘BUY’.
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