Moneycontrol
Apr 21, 2017 12:12 PM IST | Source: Moneycontrol.com

Buy Bharat Electronics; target of Rs 204: ICICI Direct

ICICI Direct is bullish on Bharat Electronics has recommended buy rating on the stock with a target price of Rs 204 in its research report dated April 20, 2017.

 
 
live
  • bselive
  • nselive
Volume
Todays L/H
More

ICICI Direct's report on Bharat Electronics


Order inflows for Bharat Electronics (BEL) have moved to a new growth trajectory with FY17 order inflows at Rs 15000 crore (our estimate: Rs 12000 crore for the year). We believe it is likely to continue in FY18E and FY19E also. We estimate order inflows in the range of Rs 12000-15000 crore in FY18E, FY19E.


Outlook


We value the company at 26x P/E (21x earlier) on FY19E EPS of Rs 7.8 to arrive at a target price of Rs 204 per share. We upgrade the stock from HOLD to BUY.


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.

Sections
Follow us on
Available On