Anand Rathi is bullish on Everest Industries has recommended buy rating on the stock with a target price of Rs 575 in its research report dated October 29, 2018.
Anand Rathi's research report on Everest Industries
Buttressed by the better performance of its BP and SB divisions, Everest reported a good performance. With the widest range of roofing products, its continuous focus on launching variants with value-added features and its improving operating efficiency, it would continue to benefit from rising demand. Rising raw material and crude oil prices, however, and a depreciating rupee would be matters of concern. We have a Buy rating on the stock, with a higher TP of `575.
Outlook
With the good Q2 performance, we expect the growth trend to persist. We have a Buy rating. Assigning a PE of 12x FY20e EPS, we arrive at a target of `575.
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