May 18, 2017 06:07 PM IST | Source:

Buy Credit Analysis & Research; target of Rs 1750: ICICI Direct

ICICI Direct is bullish on Credit Analysis & Research has recommended buy rating on the stock with a target price of Rs 1750 in its research report dated May 17, 2017.

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ICICI Direct's research report on Credit Analysis & Research

CARE, the second largest rating company by market share, is a pure play on the rating business with 99% (Rs 281 crore) of its FY17 core revenue generated from the rating segment. The highlight of CARE’s business is its best-in-class EBITDA margin of 60%+ and PAT margin of 50%.


We remain structurally positive on the rating business. We revise our target price higher to Rs 1750 (earlier Rs 1650) as we roll over to FY19E, valuing at 25x FY19E EPS & maintain BUY.

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