Neutral Crompton Greaves, target Rs 86: Citigroup
The global brokerage firm sense turnaround based on renewed management focus on business. Citigroup expect rebound in standalone power EBIT margins from historic lows of 5.1 per cent in FY16.
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| Updated: Citigroup maintains a buy rating on Crompton Greaves with a neutral rating but raised its 12-month target price to Rs 86 from Rs 59 earlier.
The global brokerage firm sense turnaround based on renewed management focus on business. Citigroup expect rebound in standalone power EBIT margins from historic lows of 5.1 per cent in FY16.
It sees balance sheet deleveraging from proceeds of sale of international T&D biz, said the brokerage report. UDAY reform is likely to be a big trigger for growth even if it takes off in only a few states.
The global brokerage firm sense turnaround based on renewed management focus on business. Citigroup expect rebound in standalone power EBIT margins from historic lows of 5.1 per cent in FY16.
It sees balance sheet deleveraging from proceeds of sale of international T&D biz, said the brokerage report. UDAY reform is likely to be a big trigger for growth even if it takes off in only a few states.
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