HDFC Securities is bullish on V-MART has recommended buy rating on the stock with a target price of Rs 1800 in its research report dated June 02, 2020.
HDFC Securities' research report on V-MART
V-MART remains one of the most nimble retailers in our universe. Its strong value proposition, leaner balance sheet and better inventory fungibility vs peers, should help V-MART navigate the COVID-19 crisis better than peers. A fragmented landlord base could further help V-MART lower its fixed costs base, ergo, help restrict the COVID19-led damage to its P&L and balance sheet.
Outlook
We maintain our BUY RECO on the stock with a DCF-based TP of Rs. 1,800/sh implying 22x FY22 EV/EBITDA (FY22 EBITDA cut is 21%).
For all recommendations report, click here
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