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Analyst: Bank of America Merrill Lynch | Rating: Underperform | Target: Rs 280
The global financial firm believes that after demonetization, Dabur was still 3-6 months away from normalcy. It also expects global business to be hurt in the first half of FY18. BofA-ML also highlighted that the stock traded in line with its historic valuation despite a sharp fall in growth.
Analyst: JPMorgan | Rating: Overweight | Target: Rs 300
The research firm termed Dabur’s Q4 revenue performance to be below expectations due to decline in overseas operations, while EBITDA was slightly ahead of estimates. This was due to a decline in advertising and promotions (A&P) spending and employee costs. It further added that growth may accelerate led by renewed investments on product innovation.
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