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Last Updated : Sep 16, 2020 04:00 PM IST | Source: Moneycontrol.com

Buy Godrej Consumer Products; target of Rs 850: Sharekhan

Sharekhan is bullish on Godrej Consumer Products has recommended buy rating on the stock with a target price of Rs 850 in its research report dated September 15, 2020.

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Sharekhan's research repor on Godrej Consumer Products


Discounted valuations of 37x/32x FY2022E/23E EPS to large peers, long-term growth prospects and focus on strengthening balance sheet make it a better play in the FMCG space. Household Insecticides will maintain good run in domestic market led by share gains and better penetration in rural markets; soaps regained growth momentum on improved supply and strong traction in key brands. Africa has recovered from lows with the region quickly exiting the pandemic situation; operational performance to be better in Q2. New leadership’s focus on driving growth through faster innovations, cross pollination and shortening working capital cycle augurs well.


Outlook


Reiterate Buy on Godrej Consumer Products (GCPL) with a revised price target of Rs. 850.


For all recommendations report, click here


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First Published on Sep 16, 2020 04:00 pm
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