Buy Tata Consumer Product; target of Rs 940: Motilal Oswal

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Motilal Oswal's research report on Tata Consumer Product

TATACONS’s strategy to acquire the remaining stake in NourishCo JV from PepsiCo is bearing its fruit with the company rapidly expanding its distribution coverage, leveraging the strength of its existing portfolio and launching innovative products in non-carbonated (NCD) and ready-to-drink (RTD) beverage segment. In this report, we highlight the rationales as to why we believe this segment could be a game changer for TATACONS.

Outlook

We expect a sales/EBITDA/PAT CAGR of 9%/14%/23%, respectively, over FY22- 25. We arrive at our SoTP-based TP of INR940 and reiterate our Buy rating on the stock.

For all recommendations report, click here

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Tata Consumer Products - 23 -01-2023 - moti