Buy United Breweries, target Rs 1088 : Motilal Oswal Securities

Motilal Oswal Securities has a buy call on United Breweries Ltd. with a target price of Rs 1088 .The current market price of United Breweries Ltd. is Rs 899.9 Time period given by analyst is a year when United Breweries Ltd. price can reach defined target. The earnings per share (EPS) forecasts have been reduced by 3-4 per cent owing to low volume growth and steep other income decline in 2QFY17. IND-AS adjustments have been made based on limited data available from FY16 onwards. "The long term volume and earnings growth opportunity is immense for India's largest beer player with strong barriers to entry in the form of distribution, brewery reach, scale and brands," said the Motilal Oswal note.