Axis Direct is bullish on Britannia Industries has recommended buy rating on the stock with a target price of Rs 5300 in its research report dated February 20, 2018.
Broker Research
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Axis Direct's research report on Britannia Industries
Britannia will launch 50 products by FY19 and step up intensity in adjacent categories to become a total food company. We continue to like the snacking space given its higher growth, but more importantly we are comfortable with the way the management is steering Britannia.
Outlook
We upgrade to BUY with TP of Rs 5,300 based on forward P/E of 42x. We justify a higher-than-usual target P/E given the 20% EPS CAGR over FY17-20E.For all recommendations report, click here
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