Hold Cox & Kings; target of Rs 200: ICICI Direct

We expect the company’s domestic leisure segment to remain healthy due to an improving macroeconomic outlook. However, through high exposure in the European market (through Holiday Break), we expect the overall revenue growth to remain muted. Further, elevated debt levels and higher cost will keep margins under check. Accordingly, we maintain HOLD recommendation on the stock with a revised target price of Rs 200/share (i.e. valuing at 8x FY 18E EPS). A major debt reduction remains a key trigger for re-rating of the stock from a longer term perspective.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.