Buy Tata Power; target of Rs 85: Edelweiss
Edelweiss is bullish on Tata Power has recommended buy rating on the stock with a target price of Rs 85 in its research report dated February 13, 2017.
Edelweiss' research report on Tata Power
We maintain our estimates and reiterate ‘BUY’ with TP of INR 85. However, FY17E gross debt: equity at 2.4x remains a challenge. For us, the key trigger remains the Supreme Court’s ratification of the CERC compensatory tariff recommendations. Even otherwise, looking at coal index, tariff escalations for Mundra project next year could recoup 50% of the losses.
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