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Last Updated : Oct 31, 2018 05:02 PM IST | Source: Moneycontrol.com

Buy Quess Corp; target of Rs 1072: Kotak Securities

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.

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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.


Outlook


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


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First Published on Oct 31, 2018 05:02 pm
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