Buy Bharat Electronics target of Rs 110 : Sharekhan

Sharekhan is bullish on Bharat Electronics has recommended buy rating on the stock with a target price of Rs 110 in its research report dated July 28, 2020.

Broker Research

July 30, 2020 / 03:49 PM IST

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Sharekhan's research report on Bharat Electronics

MOU with the Airport Authority of India to create opportunities in the global civilian airport business. Order intake increased by 72.2% y-o-y and 19.3% q-o-q to Rs 3,419 crore while order book remains healthy at Rs. 53,752 crore (4.2xits FY2020 revenue), which provides sustainable revenue visibility. Q1FY20 performance adversely impacted owing to lower execution led by COVID-19 led crisis resulting in revenue, EBITDA and PAT being lower by 21%/59%/75%y-o-y respectively.

Outlook

We reiterate our Buy rating on Bharat Electronics Limited (BEL) with a price target of Rs. 110.

For all recommendations report, click here

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