Brokerage house Emkay Global Financial Services is bullish on Titan Industries and has recommended buy rating on the stock with a target price of Rs 280 in its July 01, 2013 research report.
Emkay's research report on Titan Industries
"We are taking comfort in two data points: a) ROE and ROCE for FY15E are 35 percent (factoring in RBI notifications), and b) FCF of Rs7.5bn in FY15E; a strong financial matrix, despite all the odds. Taking into account the above, we believe, the case for derating is over-exaggerated. The peer comparison on ROCE and FCF yield makes Titan very attractive at current valuations. We retain a buy rating with a price target of Rs 280," says Emkay Global Financial Services research report.
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