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    HomeNewsBusinessStocksBuy ACC; target of Rs 1680: ICICI Direct

    Buy ACC; target of Rs 1680: ICICI Direct

    ICICI Direct is bullish on ACC has recommended buy rating on the stock with a target price of Rs 1680 in its research report dated February 06, 2017.

    February 07, 2017 / 15:18 IST
       
       
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      ICICI Direct's research report on ACC

      ACC’s Q4CY16 numbers were in line with our estimates. Revenues dipped 6.1% YoY to Rs 2,671.6 crore (vs I-direct estimate of Rs 2,705.7 crore) led by 9.2% YoY decrease in volumes to 5.5 mt (below I-direct estimate of 5.7 mt). Realisation increased 3.3% YoY to Rs 4,902/t (above I-direct estimate of Rs 4,724/t).

      OutlookWe have modelled revenue CAGR of 15% in FY16-19E led by revenue CAGR of 15% from C&B segment. We roll over our valuation on FY19E and value the stock at 39x FY19E earnings with target price of Rs 775/share.
      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.

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      first published: Feb 7, 2017 03:18 pm

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