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Feb 16, 2017, 03.50 PM | Source: Moneycontrol.com

Buy Bosch; target of Rs 25250: ICICI Direct

ICICI Direct is bullish on Bosch has recommended buy rating on the stock with a target price of Rs 25250 in its research report dated February 13, 2017.

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Buy Bosch; target of Rs 25250: ICICI Direct

ICICI Direct is bullish on Bosch has recommended buy rating on the stock with a target price of Rs 25250 in its research report dated February 13, 2017.

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ICICI Direct's research report on Bosch

Bosch’s Q3FY17 revenues came in at Rs 2,672 crore (up 7.7% YoY), vs. estimate of Rs 2,735 crore. Gross revenues of automotive segment declined 4.8% YoY to Rs 2,366 crore while revenue from the nonautomotive segment posted growth of 22.4% YoY to Rs 530 crore.

Outlook

On financials, we anticipate a CAGR of 11%, 16% in revenues, earnings, respectively, in FY16-19E (with sale of its starter motor & generator division accounting for <10% of revenue) with decent return ratios. Thus, we maintain our BUY recommendation on the stock, valuing it at 39x its FY19E EPS with a target of Rs 25,250/share. We remain positive on the long term prospects of the ancillary giant.

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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.

To read the full report click here

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Buy Bosch; target of Rs 25250: ICICI Direct

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