Buy Exide Industries Ltd., target Rs 202.0 : Edelweiss Financial Services

Edelweiss Financial Services has Buy call on Exide Industries Ltd. with a target price of Rs 202.0. The current market price of Exide Industries Ltd. is 181.0. Time period given by analyst is year, when Exide Industries Ltd. price can reach defined target. Edelweiss has maintained its buy rating on Exide Industries with a target price of Rs 202 citing that the company is a leading player in batteries and is poised to benefit from uptick in the auto OEM cycle. It said cost cutting initiatives are bound to boost margin It pegged PE at 21.5x FY17 and 19.0x FY18 estimated earnings.