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    HomeNewsBusinessStocksBuy HCL Technologies; target of Rs 960: Motilal Oswal

    Buy HCL Technologies; target of Rs 960: Motilal Oswal

    Motilal Oswal is bullish on HCL Technologies has recommended buy rating on the stock with a target price of Rs 960 in its research report dated May 11, 2017.

    June 08, 2017 / 19:03 IST
       
       
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      Motilal Oswal's research report onHCL Technologies

      FY17 revenue grew 13.7% CC, of which organic CC growth was 8.7%, as per our calculations. EBIT margin of 20.3% expanded 20bp YoY, and net income of USD 1,216.5m (adjusted for one-time tax reversal) rose 8.9% YoY.

      Outlook

      The stock trades at 13.6/12.4x FY18/19E EPS. Our price target of INR 960 discounts FY19E earnings by 14x, implying 15% upside. While we remain Buy on depressed valuations, triggers in the near term are limited. Any potential surprise from a series of new investments in last few years will have some gestation, if we were to go by the company’s FY18 revenue guidance.

      For all recommendations, click hereDisclaimer: 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: May 15, 2017 05:26 pm

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