Buy Credit Analysis & Research Ltd., target Rs 1340.0 : Centrum Broking

Centrum Broking has Buy call on Credit Analysis & Research Ltd. with a target price of Rs 1340.0. The current market price of Credit Analysis & Research Ltd. is 1147.0. Time period given by analyst is year, when Credit Analysis & Research Ltd. price can reach defined target. Centrum Equity Research cited the fact that CARE Ratings' Q1FY17 results surprised on upside on both volume and profitability fronts. It said the strong business model, superior returns profile and free cash flow yield are key strengths while valuations at 19.8x FY18 estimated earnings remain attractive.