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Last Updated : Nov 02, 2018 12:02 PM IST | Source: Moneycontrol.com

Buy Agro Tech Foods; target of Rs 700: Anand Rathi

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.

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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.


Outlook


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.


For all recommendations report, 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.

First Published on Nov 2, 2018 12:02 pm
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