Feb 16, 2017 05:28 PM IST | Source: Moneycontrol.com

Buy GSK Consumer; target of Rs 6102: ICICI Direct

ICICI Direct is bullish on GSK Consumer has recommended buy rating on the stock with a target price of Rs 6102 in its research report dated February 14, 2017.

Buy GSK Consumer; target of Rs 6102: ICICI Direct

ICICI Direct's research report on GSK Consumer

GSK Consumer reported a weak performance for the quarter impacted by the decline in consumption offtake and reduction in trade & distributors inventory pipeline as a result of demonetisation. Sales for the quarter declined 12.4% YoY to Rs 960.2 crore. We were factoring in a marginal decline of 1.5% YoY to Rs 1013.9 crore on account of expected higher auxiliary income.

Outlook

We are estimating 12.4% CAGR in the revenue in FY17E-19E and 11.6% CAGR in PAT during the same period. We value the stock at 30x its FY19E EPS of Rs 200.1 and arrive at a target price of Rs 6102/share with a BUY recommendation on the stock.

For all recommendations, click here

Disclaimer:
The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
Sections
Follow us on
Available On