Motilal Oswal is bullish on CESC has recommended buy rating on the stock with a target price of Rs 801 in its research report dated January 07, 2019.
We believe CESC is well placed to benefit from the privatization of DISCOMs. It is amongst the few opportunities that offers a play on both distribution and generation. It is also amongst the few with a healthy balance sheet and strong FCF generation to drive growth.
Outlook
We will incorporate the Malegaon circle in our numbers once the agreement is signed and contract terms are available. Re-iterate Buy with a TP of INR 801/share.
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