Sharekhan recommended Hold rating on UPL with a target price of Rs 777 in its research report dated December 18, 2018.
Sharekhan's research report on UPL
Acquisition of Arysta to push up UPL in the global agrichemical ranking with robust growth outlook over the medium to long term, given the enhanced product portfolio and geographical reach. However, there are near-term challenges in terms of weak performance in Europe due to dry spells and heat wave. In addition, there could be additional integration-related expenses in the near future.
Consequently, we are downgrading our recommendation to Hold with a PT of Rs. 777. We will review our rating once we factor the impact of Arysta’s acquisition in our consolidated earnings estimates.
For all recommendations report, click here
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