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Last Updated : May 21, 2019 10:10 PM IST | Source: Moneycontrol.com

Buy UPL; target of Rs 1086: Sharekhan

Sharekhan is bullish on UPL has recommended buy rating on the stock with a target price of Rs 1086 in its research report dated May 17, 2019.

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Sharekhan's research report on UPL


Management has guided for revenue growth of 8-10% and EBITDA growth of 16-20% for FY2020E, on base revenue and EBITDA of Rs. 32,500 crore and Rs. 6,900 crore, respectively. Revenue and cost synergies of $350 million and $200 million, respectively, on account of Arysta’s acquisition likely to accrue in a phased manner over a period of three years beginning FY2020. UPL (ex Arysta) reported revenue and earnings growth of 15% and 18% y-o-y, respectively, during Q4FY2019.


Outlook


We maintain our Buy rating on the stock with a revised PT of Rs. 1,086.


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.




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First Published on May 21, 2019 10:10 pm
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