Edelweiss recommended hold rating on NMDC with a target price of Rs 130 in its research report dated February 14, 2017.
Edelweiss' research report on NMDC
Factoring in higher costs and start of captive mining by one of the company’s major customer in FY18, we have pruned our FY18E EBITDA by 16%. At CMP, the stock trades at 7.7x FY19E EBITDA, which is at higher end of the multiples for global peers. Maintain ‘HOLD/SP’ with unchanged TP of INR 130.
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