Edelweiss is bullish on Marico has recommended buy rating on the stock with a target price of Rs 368 in its research report dated 11 September 2017.
Edelweiss' research report on Marico
Our recent meeting with Mr. Saugata Gupta, MD & CEO, Marico,bolstered our conviction in the company’s bright prospects anchored by its sharpened focus on innovation and new launches. While the GST-led transition impact is largely behind, management envisages volume-led growth (8-10% YoY) coupled with price hikes (4-5% YoY likely in H2FY18) in the domestic business in balance FY18.
We revise up FY19E target PE to 45x (from40x) and arrive at revised TP of INR368 (earlier INR344). We maintain ‘BUY/SO’.
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