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    HomeNewsBusinessStocksHold Talwalkars; target of Rs 235: ICICI Direct

    Hold Talwalkars; target of Rs 235: ICICI Direct

    ICICI Direct recommended hold rating on Talwalkars with a target price of Rs 235 in its research report dated February 13, 2017.

    February 13, 2017 / 16:57 IST

    ICICI Direct's research report onTalwalkars

    Talwalkars reported a mixed set of numbers. Revenues increased 14.9% YoY to Rs 60.2 crore (below I-direct estimate of Rs 63.9 crore) mainly led by an improvement in same store sales growth (SSS) and addition of 20 new gyms at Bengaluru.

    Outlook

    As a result, although we remain positive on the stock from a long term perspective, near term concern prompts us to downgrade the stock from BUY to HOLD. We revise our target valuation downward to Rs 235/share.

    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 13, 2017 04:00 pm

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