Buy Exide Industries Ltd., target Rs 205 : Motilal Oswal Securities

Motilal Oswal Securities has Buy call on Exide Industries Ltd. with a target price of Rs 205. The current market price of Exide Industries Ltd. is Rs 177.15. Time period given by analyst is year, when Exide Industries Ltd. price can reach defined target. The brokerage cited strong revenue growth across auto and industrial segments. The brokerage said it is factoring in 14 per cent revenue CAGR over FY16-18, an EBITDA margin of 15.6% in FY17 and 15.4% in FY18. It said the stock trades at 20.1x FY17 and 17.4x FY18 estimated earnings.