Forwarding you the Company visit on KEC International with a Buy recommendation and a Target Price of `73 (12 months).
We met KEC
International (KEC)’s management to get an update on its business. KEC
has a geographically diversified business model which insulates itself
from slowdown in any particular region. Further, the company has also
ventured in new businesses of water, telecom and railway which have
fared well and order inflows as well as revenues have been picking up at
a measurable pace. Given the attractive valuations (stock is trading at
6.8x FY2014E EPS which is 48% discount to its 5 year average PE), we maintain Buy on the stock
assigning a multiple of 8x to arrive at a target price of `73.
Kindly click on the following link to view the Report.
KEC International
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