Kotak Securities is bullish on Quess Corp has recommended buy rating on the stock with a target price of Rs 1072 in its research report dated October 29, 2018.
Kotak Securities' research report on Quess Corp
Quess corp management alluded its focus on execution and balance sheet management to boost its long term earnings growth. Improvement in operating margin will be supported by better revenue mix, improvement in operations of DIGIMAX solutions, turnaround of Monster and other efficiency improvement. With strong focus on balance sheet management and execution in each of businesses yielded tangible results in H1FY19 with superior working capital management leading to an achievement of 34% OCF/EBITDA conversion.
We maintain BUY rating on Quess with a revised target price of Rs.1072/share (earlier Rs. 1302/share), valuing the company at a 35x P/E multiple (earlier 40x). In India, every month ~1 million people are entering the workforce, generating sustainable employment becomes an imperative which opens huge growth opportunities for Quess.
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.Get access to India's fastest growing financial subscriptions service Moneycontrol Pro for as little as Rs 599 for first year. Use the code "GETPRO". Moneycontrol Pro offers you all the information you need for wealth creation including actionable investment ideas, independent research and insights & analysis For more information, check out the Moneycontrol website or mobile app.