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Last Updated : Sep 17, 2019 12:11 PM IST | Source: Moneycontrol.com

Hold Zydus Wellness; target of Rs 1840: Sharekhan

Sharekhan recommended Hold rating on Zydus Wellness with a target price of Rs 1840 in its research report dated September 16, 2019.

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Sharekhan's research report on Zydus Wellness


The stock price of Zydus Wellness Limited (Zydus) has moved up by ~17% since our last update (dated July 31, 2019). The current valuation at 31.6x its FY2021 earnings is at a premium of ~7% of its historical five-year average of 30x and does not provide much upside from the current level.


Outlook


Hence, we downgrade our rating on the stock from Buy to Hold with a revised PT of Rs. 1,840. Post the acquisition of Heinz, working capital has remained stable; however, higher debt has put some pressure on the balance sheet.


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 Sep 17, 2019 12:11 pm
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