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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.
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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