Moneycontrol
Apr 19, 2017 12:38 PM IST | Source: Moneycontrol.com

Buy Wabco India; target of Rs 7000: ICICI Direct

ICICI Direct is bullish on Wabco India has recommended buy rating on the stock with a target price of Rs 7000 in its research report dated April 13, 2017.

Buy Wabco India; target of Rs 7000: ICICI Direct

ICICI Direct's report on Wabco India

The government’s focus on emission & safety norms is likely to benefit Wabco India (WIL), which is one of the prominent players in safety solutions in the Indian CV space. The government’s thrust on environmental protection & road safety is evident from the past chain of events - migration from BS III to BS IV emission standard and mandatory implementation of anti-lock brake system (ABS), respectively.

Outlook

With the government focusing more on safety norms, WIL is well placed to capture this growth opportunity, going forward. Thus, we maintain our BUY recommendation on the stock valuing it at 37x FY19E EPS, with a target price of Rs 7000.

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