Feb 16, 2017 12:55 PM IST | Source: Moneycontrol.com
Buy Suprajit Engineering; target of Rs 246: Edelweiss
Edelweiss is bullish on Suprajit Engineering has recommended buy rating on the stock with a target price of Rs 246 in its research report dated February 14, 2017.
Edelweiss' research report on Suprajit Engineering
SEL’s consolidated revenue (ex PHLL and Wescon) stood at INR 1.9bn (down 3% YoY), led by revenue decline in domestic business. PHLL revenues surprised positively at INR 846mn, up 8% YoY (our estimate of 5% decline).
Over FY16-19, we estimate consolidated EPS to log CAGR of 18% and RoE (including PHLL) to remain stable at 21.5%. We introduce FY19E EPS of INR 10.6 and upgrade to ‘BUY’ with TP of INR 246 (20x SEL’s FY19E core EPS, INR 18 cash/share, INR 34 for PHLL and INR 24 for Wescon).
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.