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    HomeNewsBusinessStocksBuy Escorts; target of Rs 465: Karvy

    Buy Escorts; target of Rs 465: Karvy

    Karvy is bullish on Escorts has recommended buy rating on the stock with a target price of Rs 465 in its research report dated February 10, 2017.

    February 10, 2017 / 16:40 IST
       
       
      26 Aug, 2025 12:21
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      Karvy's research report on Escorts

      Escorts delivered healthy Q3FY17 performance with its operating margin coming way above our as well as street’s estimates, benefitted from volume growth and product mix. Its EBIDTA margins increased 378 bps YoY and 147 bps QoQ to 8.4% as against our estimate of 3.9%.

      Outlook

      We introduce our FY19E estimates and estimate Escorts to record an EPS of Rs 37.2 on revenues of Rs 51.7bn. We roll forward our target price to FY19E and we increase our target price from Rs 435 to Rs 465 per share, valuing the stock at 12.5xFY19E EPS. In view of expected healthy tractor volume over next one and half years and ongoing margin improvement, we reiterate our “BUY “on Escorts.
      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 10, 2017 04:40 pm

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