Axis Direct is bullish on Advanced Enzyme Technologies has recommended buy rating on the stock with a target price of Rs 1850 in its research report dated February 21, 2017.
Axis Direct's report on Advanced Enzyme Technologies
Advanced Enzyme’s (AETL) Q3FY17 revenue declined 19% YoY and PAT declined 28% YoY; this was a negative surprise. However, on 9MFY17 basis, revenue grew 15% YoY and PAT grew 35% YoY.
Such as (a) patented enzyme for palm oil extraction in Indonesia – USD 3 bn opportunity, and (b) entry in detergent enzymes (USD 1.3 bn market), augur well for future growth. Maintain BUY.
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First Published on Feb 23, 2017 05:49 pm