Jan 23, 2018 12:04 PM IST | Source:

Buy Dabur India; target of Rs 395: Axis Direct

Axis Direct is bullish on Dabur India has recommended buy rating on the stock with a target price of Rs 395 in its research report dated January 10, 2018.

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Axis Direct's research report on Dabur India

We upgrade Dabur to BUY on likely faster recovery in rural economy (where Dabur has created an edge) on multiple tailwinds, with a realigned supply chain and ayurvedic portfolio to boot. We see double digit sales and earnings momentum to be back effective FY19. We had HOLD rating on Dabur largely due to deceleration in growth in rural markets and lack of growth engines.

Our Mar-19 TP of Rs 395 (earlier Rs 335) is based on 1 year forward P/E of 38x.

For all recommendations report, click here

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