Buy PI Industries; target of Rs 1280: Sharekhan
Sharekhan is bullish on PI Industries has recommended buy rating on the stock with a target price of Rs 1280 in its research report dated July 26, 2019.
July 29, 2019 / 12:22 PM IST
Sharekhan's research report on PI Industries
Management reiterated its growth guidance of more than 20% on revenue front and 50-100 bps margin expansion at operating level. We expect the company to post revenue and earnings CAGR of 20.6% and 31.1%, respectively, during FY2019-FY2021E. Strong performance continues with revenue, EBITDA and PAT surging by 24.5%, 28.4% and 23.6% y-o-y, respectively, during Q1FY2020.
We maintain our Buy rating on PI Industries with an unchanged PT of Rs. 1,280/share.
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