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    HomeNewsBusinessStocksBuy Voltas; target of Rs 375: Edelweiss

    Buy Voltas; target of Rs 375: Edelweiss

    Edelweiss is bullish on Voltas has recommended buy rating on the stock with a target price of Rs 375 in its research report dated February 16, 2017.

    February 21, 2017 / 15:17 IST

    Edelweiss' research report onVoltas

    Despite revenue drop across segments, VOLT reported strong 58% YoY growth in EBIDTA, which was 40% higher than our and consensus estimates. This was largely driven by strong margin performance in projects business, which recorded healthy 3.9% EBIT margin (versus -1% YoY), as the company closed certain projects with better profitability.

    Outlook

    Despite softer top line in a non-season quarter, we maintain ‘BUY‘ with a revised TP of INR 375 (INR 315 earlier) on FY19E earnings, given reasonable 17% earnings CAGR (FY16-19E) and reasonable 23% RoCE by FY19E.

    For all recommendations, click hereDisclaimer: 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: Feb 21, 2017 03:17 pm

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