Edelweiss bullish on Godrej Consumer has recommended buy rating on the stock with a target price of Rs 1435 in its research report dated July 11, 2018.
Edelweiss' research report on Godrej Consumer
We recently met Mr. Vivek Gambhir, Managing Director & CEO of Godrej Consumer Products (GCPL). Key takeaways: (i) management is confident of robust rural growth bolstering overall business; (ii) FY19 is envisaged to be year of strong innovations & new launches; (iii) management believes Power Chip entails potential to change fortunes of its HI segment; and (iv) international business is on recovery road with focus now on improving return ratios.
We believe, the company’s innovation drive and market leadership will further bolster GCPL’s positioning and spur MS gains. Riding on this optimism, we upgrade target multiple to 45x (earlier 40x) to arrive at revised TP of INR1,435 (earlier INR1,265). Maintain ‘BUY’.
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