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 November 30, 2016.
Edelweis's research report on Tata Power
With completion of the Welspun deal, gross D/E ratio has gone up to 2.7x and hence potential returns/cash flows from the acquisition is critical. We continue to assume favourable outcome for the Mundra CT in our estimates and SoTP-based TP is INR 85. At CMP, the stock is trading at 1.2x FY17E and 1.1x FY18E P/BV. We maintain 'BUY/SP'.
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.