Anand Rathi is bullish on Agro Tech Foods has recommended buy rating on the stock with a target price of Rs 700 in its research report dated October 30, 2018.
Anand Rathi's research report on Agro Tech Foods
With its innovations gaining traction and Agro Tech’s foray into new categories, we expect the share of its foods business to rise from 29% now to over 35% by 2021, driving operating synergies and volume growth. Moreover, no major capex planned, distribution expansion, its wider geographic footprint and lower interest outgo would result in accelerated earnings growth. Thus, we retain a Buy.
We roll forward our price target to Sep FY20 and retain our Buy recommendation with a lower price target of `700 based on 35x Sep FY20e EPS.
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