ICICI Direct is bullish on Voltas has recommended buy rating on the stock with a target price of Rs 400 in its research report dated February 16, 2017.
ICICI Direct's research report on Voltas
Under our SOTP based valuation, we value the UCP segment by ascribing PE multiple of 24x FY18 earnings. We ascribe a PE multiple of 5x FY18E earning to EMPS business and 6x FY18E earnings to EPS segment. We maintained our BUY recommendation with revised target price of Rs 400/share (based on 21x FY19E earnings).
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