Raymond CMP 381 Target 635
Investment Rationale
~ Strong portfolio of brands
~ Largest retail network
~ The turnaround
~ Land bank, the trigger
~ Industry outlook
Valuations
Raymond has shown good performance for the current financial year and with festive season and improved demand the company shows a positive outlook for future though pressure on margins is visible. At CMP the stock trades close to its lowest PE valuations of last 5 years. We have a price target of Rs. 635.
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