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Buy Phoenix Mills; target of Rs 750: Motilal Oswal

Motilal Oswal is bullish on Phoenix Mills recommended buy rating on the stock with a target price of Rs 750 in its research report dated November 14, 2020.

November 19, 2020 / 03:00 PM IST
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Motilal Oswal 's research report on Phoenix Mills

The Retail segment is seeing strong recovery post the resumption of operations at malls, while the Office segment remains steady. However, the Hospitality segment is unlikely to achieve normalcy in the short term. PHNX remains one of the best proxy plays on India's consumption story in the medium-to-long term. Reiterate Buy.


We value PHNX's retail assets on the DCF-based NAV approach, assuming a cap rate of 9.5% and discount rate of 13.5%. Maintain Buy, with SOTP-based TP of INR750.

For all recommendations report, click here

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Broker Research
first published: Nov 19, 2020 03:00 pm

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