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    HomeNewsBusinessStocksBuy BlueDart Express; target of Rs 5500: ICICI Direct

    Buy BlueDart Express; target of Rs 5500: ICICI Direct

    ICICI Direct is bullish on BlueDart Express has recommended buy rating on the stock with a target price of Rs 5500 in its research report dated February 10, 2017.

    February 13, 2017 / 17:01 IST
     
     
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    ICICI Direct's research report on BlueDart Express

    BlueDart’s (BDE) revenues revived post underperformance over two consecutive quarters. Revenues grew 10.4% YoY (up 8.6% QoQ) to Rs 720 crore (I-direct estimates: Rs 665.4 crore). Contribution from B2C sequentially grew 400 bps QoQ (flat YoY) to 26%. Growth in B2B business remains sluggish.

    Outlook

    We believe that BDE is well equipped to ride out the next growth cycle triggered by GST implementation which would accrue gradually over our DCF period. We maintain BUY recommendation with a revised target price of Rs 5500.
    For all recommendations, 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.

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    first published: Feb 13, 2017 05:01 pm

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