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Last Updated : Jul 24, 2020 04:42 PM IST | Source: Moneycontrol.com

Buy Polycab, India; target of Rs 945: Anand Rathi

Anand Rathi is bullish on Polycab, India has recommended buy rating on the stock with a target price of Rs 945 in its research report dated July 22, 2020.

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Anand Rathi 's research report on Polycab, India


Polycab’s weak Q1 was operationally in line with our estimates. B2C/tier 1-2 markets did better than B2B/metros. While FY21 will be tough, strategic steps to improve working capital and cost optimisation will offer long-run benefits. We remain positive on Polycab, given its leadership in the fast-growing C&W (incl. exports), wide distribution network, strong management and healthy balance sheet.


Outlook


Thus, we maintain a Buy with a target of `945 (17x/20x FY22e P/Es for C&W/FMEG), earlier `884. Profitable growth in FMEG will support a re-rating.




For all recommendations report, click here

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First Published on Jul 24, 2020 04:42 pm
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