Centrum is bullish on Tata Power has recommended buy rating on the stock with a target price of Rs 84 in its research report dated November 30, 2016.
Centrum's research report on Tata Power
We value individual projects/businesses either using DCF or assigning a multiple to its book value to arrive at our TP of Rs 84. A scenario of zero tariff hike in CT by SC would drag our TP to Rs 69. Key downside risks are (1) low or zero tariff hike for Mundra and (2) materialisation of contingent liabilities.
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