ICICI Direct recommended hold rating on Bata India with a target price of Rs 515 in its research report dated February 13, 2017.
ICICI Direct's research report on Bata India
Bata is also doubling its advertising expenditure for FY17 for brand building purposes. We would watch the progress on recent initiatives undertaken by the company to revive the growth. Hence we assign a HOLD recommendation on the stock with a target price of Rs 515 (based on 27.0 FY19E EPS of Rs 19.0).
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