Overweight Dabur India Ltd. with a target of Rs 300 – JP Morgan

JP Morgan has Overweight call on Dabur India Ltd. with a target price of Rs 300 . The current market price of Dabur India Ltd. is 269.95 . Time period given by analyst is year when Dabur India Ltd. price can reach defined target.
Q3FY17 operational performance disappointed particularly on revenue front. Lower revenue estimates for FY17-19E by 3-5%, expect domestic growth recovery to be tepid. Operating margins to be under pressure from higher COGS inflation & need for higher A&P spends. Expect 1HFY18 to witness mid-single digit growth..