Accumulate Hindustan Zinc, target Rs 370: Prabhudas Lilladher

Prabhudas Lilladher has an accumulate call on Hindustan Zinc Ltd. with a target price of Rs 370. The current market price of Hindustan Zinc Ltd. is Rs 308.4.
The time period given by the analyst is year when Hindustan Zinc Ltd. price can reach defined target. Hindustan Zinc Ltd., incorporated in 1966, is a largecap company with a market cap of Rs 130203.20 crore.
Investment rationale by Prabhudas Lilladher:Hindustan Zinc (HZ) reported Q4FY18 earnings in line with our expectation. Our earnings estimates remain unchanged for FY18E/FY19E on the back of firm outlookon Zinc prices and improved visibility on expansion led volume growth. Driven by strong outlook on Zinc and quality assets, we maintain “Accumulate” with TP ofRs370 at an EV/EBITDA of 8x FY20E.