Buy J.Kumar Infraprojects, target Rs 360: Prabhudas Lilladher

Prabhudas Lilladher maintains a buy rating on J.Kumar Infraprojects post-March quarter results with a 12-month target price of Rs 360.

The stock is trading at 13.7x FY17E earnings. We believe that a well-funded balance sheet and strong track record will help JKIL to capitalise on a huge opportunity in urban infrastructure over the next few years.

"We expect the stock to deliver sales and PAT CAGR of 23% & 24%, respectively, over FY16-18E. We have cut our earnings by 6 per cent for FY17/18 to factor in lower margins in the quarter. We maintain 'BUY' with revised target price of Rs 360," said the brokerage note.