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Last Updated : Apr 05, 2018 05:59 PM IST | Source: Moneycontrol.com

Buy Parag Milk Foods; target of Rs 330: JM Financial

JM Financial is bullish on Parag Milk Foods has recommended buy rating on the stock with a target price of Rs 330 in its research report dated March 12, 2018.

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JM Financial's research report on Parag Milk Foods


Parag Milk Foods (Parag) has created a well-diversified product portfolio and firmly established its brands in the Indian dairy industry. This has helped it become the second largest cheese player in the country, boosting its value-added products (VAP) business to 66% of revenue and aiding a 567bps GPM expansion over the past 3 years

Outlook

We initiate with BUY and a target price of INR 330 based on 24x FY20E EPS (marginally higher than its current trading multiple, which is at a discount to peers such as Prabhat and Heritage Foods). We see 22% upside from the current market price.

For all recommendations report, click here


Disclaimer: 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 on Mar 12, 2018 04:05 pm
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