Accumulate Engineers India Ltd., target Rs 285.0 : Prabhudas Lilladher

Prabhudas Lilladher has Accumulate call on Engineers India Ltd. with a target price of Rs 285.0. The current market price of Engineers India Ltd. is 266.75. Prabhudas Lilladher said the stock is trading at 19.2x FY2018 estimated earnings and is expected to deliver earnings CAGR of 26% over FY2016-18. It said it has increased its target PER mul tiple from 20x to 23x to fac tor in improving visibility on oil and gas capex.