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Last Updated : Feb 13, 2017 05:01 PM IST | Source: Moneycontrol.com

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.

 
 
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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.

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First Published on Feb 13, 2017 05:01 pm
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