Buy Mahindra Logistics: Target Of Rs 432: Sharekhan
Sharekhan is bullish on Mahindra Logistics recommended buy rating on the stock with a target price of Rs 432 in its research report dated November 02, 2020.
Nov 5, 2020 / 05:04 PM IST
Sharekhan's research repor on Mahindra Logistics
MLL posted better-than-expected performance for Q2FY2021 led by rebound in its SCM business revenue growth at almost pre-COVID level. E-commerce and consumer drive non-M&M segment revenues. The company added 0.8msf warehousing space and introduced Flexi Warehousing solutions of ~1msf which would help in addressing seasonality, network expansion and demand uncertainty. MLL generated strong operating cash flows during H1FY2021. Improving auto demand along with sustained high growth in E-commerce, consumer and freight forwarding to drive earnings.
We recommend Buy on Mahindra Logistics Limited (MLL) with a price target of Rs. 432 considering its attractive valuation and strong net earnings growth trajectory over FY2021E-FY2023E.
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