Khambatta Securities is bullish on Tiger Logistics has recommended buy rating on the stock with a target price of Rs 350 in its research report dated June 12, 2017.
Khambatta Securities' research report on Tiger Logistics
For the full year, Commodity was the highest contributor in the total revenue composition at 31%, followed by Automobiles at 23%, projects at 21%, and others at 25%. TEU’s (Twenty Feet Unit’s) increased to 26,949 for 4Q FY17 from 20,943 TEU’s for 3Q FY17. For FY 17 it increased to 81,967 against 73,185 in FY 16, indicating continuation in the growth momentum.
At the CMP, the stock trades at a P/E multiple of 15x/11x FY18E/FY19E EPS. We believe, with uptick in economy, revival in infrastructure cycle, Make in India to boost the demand for logistics of goods and services thus benefitting the Company. Due to rich business fundamentals and asset light model, we expect the high valuations to continue and recommend a BUY with a price target of Rs. 350, an upside potential of 79%.
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