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Buy Oberoi Realty, target Rs 559: Edelweiss Financial Services

Buy Oberoi Realty Ltd. at a price target of Rs 559.0

ETMarkets.com|
Apr 27, 2018, 08.11 AM IST
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Oberoi Realty
The current market price of Oberoi Realty is Rs 548.60.
Edelweiss Financial Services has a buy call on Oberoi Realty with a target price of Rs 559.

The current market price of Oberoi Realty is Rs 548.60.

Time period given by the brokerage is one year when Oberoi Realty price can reach the defined target.

Investment rationale by Edelweiss:
Oberoi Realty’s (Oberoi) Q4FY18 new sales came in at Rs 2.6bn (down 24 per cent YoY and 35 per cent QoQ) and were driven by sequential pick up in bookings at Esquire and Enigma projects. Management has adopted a new growth strategy focused on achieving higher sales velocity (through marketing activations) and market share (higher volumes, new land buys). While the new strategy may be a response to muted sales trajectory, we are enthused by the change in tack. We believe it will boost the company’s growth prospects and push long-term growth trajectory upwards; however, recent run up in the stock price has capped near-term upsides. Maintain ‘BUY’ with target price of Rs 559.
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Disclaimer: This recommendation is analyst's own and does not represent those of economictimes.com & ETMarkets.com. Please consult your financial advisor before taking any position in the stock/s mentioned.

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