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Buy Cox & Kings, target Rs 325: Sharekhan

Buy Cox & Kings Ltd. at a price target of Rs 325.0 .|
Last Updated: Feb 21, 2018, 07.52 AM IST
Sharekhan has a buy call on Cox & Kings with a target price of Rs 325.

The current market price of Cox & Kings is Rs 236.85.

Time period given by the brokerage firm is a year when Cox & Kings price can reach defined target.

"We have broadly maintained our earnings estimates for FY2018 and FY2019 and introduced FY2020 earnings estimates through this note. We expect Meininger business to maintain the strong growth momentum as the company is planning to increase the bed capacity to 15,000 beds by end of FY2019. The bookings in the education business have increased by 6 per cent on y-o-y basis. The domestic leisure travel business will grow by 10-12 per cent, while the international leisure travel business will post better margins in the coming years. Reduction in debt will act as an additional trigger for the stock. We maintain our Buy recommendation on the stock with the unchanged price target of Rs 325. The stock is currently trading at 8.5x its FY2019E EPS of Rs 29.50," Sharekhan said in a report.

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