Buy Symphony Ltd; target of Rs 1530: ICICI Direct
ICICI Direct is bullish on Symphony Ltd has recommended buy rating on the stock with a target price of Rs 1530 in its research report dated February 14, 2017.
ICICI Direct's research report on Symphony Ltd
We have modelled sales and earnings CAGR of 26% and 28%, respectively, in FY15-19E, led by strong volume growth in the wake of better monsoon, implementation of Seventh Pay Commission, GST. We use DCF method for valuation, assuming revenue CAGR of 26% (FY15-25E), terminal growth of 5%, WACC of 11% and maintained our target price to Rs 1530.
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