Brokers' Picks: Goldman neutral on Apollo Tyres
The acquisition of US-based Cooper Tire appears significant in terms of Apollo Tyres market cap
TARGET: Rs 101
CURRENT PRICE: Rs 68
> The acquisition of US-based Cooper Tire appears significant in terms of Apollo Tyres market cap
> Post-acquisition leverage for the combined entity will be 3.8x net debt/EBITDA
> The deal is likely to be EPS accretive from the first year of acquisition.
> Execution is key
CURRENT PRICE: Rs 68
> The acquisition of US-based Cooper Tire appears significant in terms of Apollo Tyres market cap
> Post-acquisition leverage for the combined entity will be 3.8x net debt/EBITDA
> The deal is likely to be EPS accretive from the first year of acquisition.
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> Execution is key
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