Sharekhan is bullish on UPL has recommended buy rating on the stock with a target price of Rs 1086 in its research report dated June 27, 2019.
Sharekhan's research report on UPL
Management believes there is no meaningful impact of the concerns, as UPL Corp is expected to fulfill new resident criteria in Mauritius; African swine fever not to have much impact as peak soyabean season is over; and ongoing U.S.-China trade war likely to benefit as hike in tariff by U.S. makes Chinese products more costly. Arysta’s integration progressing well; Management maintains its revenue and cost synergies guidance.
Outlook
We maintain Buy on UPL with a PT of Rs. 1,086. The stock has corrected by 16% from its recent high; currently trading at 11.7x its FY2021 EPS (discount to its historical average).
For all recommendations report, click here
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