Buy Phoenix Mills with a target at Rs 430: UBS
The EBITDA growth was in-line with estimates while earnings were marked by one-offs.
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| Updated: UBS maintains buy rating on Phoenix Mills post March quarter results with a 12-month target price of Rs 430.
The EBITDA growth was in-line with estimates while earnings were marked by one-offs. The mall portfolio growth still remains intact. The growth is at inflection point and stock-specific catalysts could spur stock movement.
The current market price reflects HSP Mumbai mall values and discounts MarketCity malls. Robust earnings forecast and prime locations of assets makes Phoenix Mills an attractive bet for long-term investors as risk-reward remains favourable.
The EBITDA growth was in-line with estimates while earnings were marked by one-offs. The mall portfolio growth still remains intact. The growth is at inflection point and stock-specific catalysts could spur stock movement.
The current market price reflects HSP Mumbai mall values and discounts MarketCity malls. Robust earnings forecast and prime locations of assets makes Phoenix Mills an attractive bet for long-term investors as risk-reward remains favourable.
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