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Last Updated : Jul 03, 2020 01:31 PM IST | Source: Moneycontrol.com

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 01, 2020.

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Sharekhan's research report on Bharat Electronics


Order book remains healthy at Rs. 51,970 crore (4xits FY2020 revenue), which provides sustainable revenue visibility;expect pickup in order intake during FY2022E. Management expects 10% revenue growth (including supply of ventilators ) and margins to beat 20-21% for FY2021E.We expect revenue CAGR of 6.2% and margin contraction of 274 bps (leading to flat PAT) during FY2020-FY2022E. BEL reported robust performance with revenue, EBITDA, and PAT registering growth of 49%/56%/74%y-o-y, respectively.


Outlook


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




For all recommendations report, click here


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First Published on Jul 3, 2020 01:29 pm
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