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Last Updated : Feb 23, 2017 10:42 AM IST | Source: Moneycontrol.com

Buy PNC Infratech; target of Rs 121: Geojit Research

Geojit Research is bullish on PNC Infratech has recommended buy rating on the stock with a target price of Rs 121 in its research report dated February 22, 2017.

 
 
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Geojit Research' report on PNC Infratech


PNC’s order book stands at Rs 5,750cr (3x trailing twelve month revenue) which grew by 88% YoY is this will definitely portray the revenue growth in the coming years. PNC has been awarded its first HAM (Hybrid Annuity Project) of Rs 881cr (included in current order book) which provide strong visibility & opportunity to build up order book.


Outlook


The strong order book of 3x TTM and the opportunities in road segments provides visibility to future revenue growth. We Roll over our valuation to FY19E EPS at a PE of 13x and BOT projects at 1x P/B to arrive at SOTP price target of Rs 121 with BUY rating.


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First Published on Feb 23, 2017 10:42 am
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