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ASIANPAINT Share Price Target
Asian Paints Ltd.
Sector: Paints and Pigments
Sector: Paints and Pigments
ASIANPAINT Share Price *
1,718.2 +2.35 (0.14%)
* (quote may be delayed)
ASIANPAINT Share Price Forecast - Consensus
| No. of reports in last year | 19 |
| No. of analysts | 7 |
| Average Consensus Forecast | 1650.42 |
| Consensus Potential | -5.90% |
ASIANPAINT Share Price Target - Broker Reports - 2019
Axis Direct
29-Oct-19
Price @ Call: 1792.3
Target: 1976
BUY
Compared to our estimates, APNT delivered a relatively muted performance on revenue and operational front (2%/14% miss) despite a healthy 15% volume growth amid challenging conditions. A weaker mix (in favour of putty sales) down by 6% led to just 9% growth in topline. APNTs conscious strategy to push lower end (putty/distemper) sales and slower growth in premium products could keep EBITDA Margins under check going ahead (despite RM tailwinds seen in Q2FY20). However, this strategy should yield in healthy volume growth and market share gains. However, we remain positive over the long term as 1) continued urbanization; 2) wide product portfolio providing value to customer across price points; 3) distribution expansion in Tier II/Tier III towns and 4) premiumization will drive earnings. Further, to factor in lower tax rate we revise our estimates leading to revision in rating to “BUY” and TP to Rs. 1,976 (50x Sept 2021E).
Prabhudas Lilladher
24-Oct-19
Price @ Call: 1766.4
Target: 1855
ACCUMULATE
Although APNT has taken 0.8% price cuts in 1H, Soft crude prices would enable maintain margins. We increase our EPS estimates of FY20-21 by 7.6- 1.2% as we incorporate one-time deferred tax re-measurement and estimate 23% Adj. PAT CAGR over FY19-22 and 15% PAT CAGR over FY20-22. We value the stock at 45xFY22 EPS of 41.2 and arrive at a target price of 1855 (Earlier Rs1640 at 45xJune21 EPS). Retain Accumulate
ICICIdirect.com
23-Oct-19
Price @ Call: 1777.79
Target: 2050
BUY
We believe despite extended monsoons, the company has recorded strong volume growth in Q2FY20 with margin expansion. We revise our earnings estimate up by 6% and 4% for FY20E and FY21E, respectively. We maintain our BUY rating on the stock with a revised target price of Rs 2050/share.
Edelweiss
23-Oct-19
Price @ Call: 1777.79
Target: 2050
BUY
We expect decorative volumes to sustain riding likely demand shift from theunorganised segment (~30%). This, coupled with APL’s capability to hike prices, shouldhelp maintain margin. Rolling forward, our revised TP comes to INR2,050 (55x, 12- month forward PE). Maintain ‘BUY/SO’. The stock is trading at 47.8x FY21E EPS.
Axis Direct
11-Oct-19
Price @ Call: 1786.93
Target: 1935
BUY
ICICIdirect.com
19-Sep-19
Price @ Call: 1557.37
Target: 1950
BUY
Prabhudas Lilladher
25-Jul-19
Price @ Call: 1477.15
Target: 1522
ACCUMULATE
We remain positive in the structural growth story due to 1) portfolio to straddle through price points and deep distribution 2) strong pricing power given 7.4% price increase in the calendar year (0.4% price cut in 1Q) and 3) lower share of Automotive/ Industrial paints (5% of Consol sales) which faces demand pressure in near term. We increase EPS estimates by 2.3-2.6% and now estimate CAGR of 14% in revenue and 20.5% in Adj. PAT over FY19-21. We value the stock at 45xJune21 EPS of 33.8 and arrive at a target price of 1533 (Earlier Rs1433). Retain Accumulate.
ICICIdirect.com
25-Jul-19
Price @ Call: 1477.15
Target: 1550
HOLD
Valuation & Outlook: We model revenue, earning CAGR of 16%, 20%, respectively, led by ~14% volume growth. We believe pressure on gross margin (due to change in product mix coupled with higher raw material cost) will ease, going forward, supported by a change in mix. However, at the current multiple, the stock offers limited upside. Hence, we change our rating from BUY to HOLD with a revised target price of 1550/share.
ICICIdirect.com
25-Jul-19
Price @ Call: 1477.15
Target: 1550
HOLD
We model revenue, earning CAGR of 16%, 20%, respectively, led by ~14% volume growth. We believe pressure on gross margin (due to change in product mix coupled with higher raw material cost) will ease, going forward, supported by a change in mix. However, at the current multiple, the stock offers limited upside. Hence, we change our rating from BUY to HOLD with a revised target price of Rs1550/share.
Edelweiss
14-Jun-19
Price @ Call: 1427.15
Target: 1570
BUY
We expect the decent decorative volumes to sustain led by improving macro parameters, demand and likely shift thereof from the unorganised (~30%) to organised segment. This, coupled with APL’s ability to hike prices, should keep APL in good stead. We maintain ‘BUY/SO’ with TP of INR1,570. The stock is trading at 41.7x FY21E PE.
Axis Direct
29-May-19
Price @ Call: 1354.76
Target: 1510
BUY
Owing to challenging macro environment, pressure on rural growth and auto sector could impact the near term performance. While, there could be surge in FCF as capex normalizes volume growth could be a challenge in the near term. However, over the long term we like the narrative of delivering growth by focussing on distribution expansion and changing consumption patterns especially in rural areas. We maintain “BUY” with arevised TP of Rs. 1,510 (45x FY21E EPS).
Geojit Financial Services
13-May-19
Price @ Call: 1340.95
Target: 1269
REDUCE
We expect volume to grow at double digit due to pick up in demand for distempers and low-end emulsion. However, margin pressure and high valuation will impact stock price. We therefore revise our rating to Reduce and value at a P/E of 40x on FY21EPS.
ICICIdirect.com
10-May-19
Price @ Call: 1329.72
Target: 1525
BUY
We model revenue, earning CAGR of 15%, 17%, respectively, led by ~14% volume growth. We believe pressure on gross margin (due to change in product mix coupled and higher raw material cost) will ease, going forward, supported by price hikes. We maintain our BUY rating on the stock with a revised target price of Rs 1535/share.
Prabhudas Lilladher
10-May-19
Price @ Call: 1355.8
Target: 1433
ACCUMULATE
We remain positive in APNT’s structural growth story due to 1) likely benefits of GST rate reduction given ability to straddle through price points and deepdistribution 2) strong pricing power given 7.4% price increase since March’18 and 3) lower share of Automotive/ Industrial paints which will face more pressure in near term. We estimate 12.6% and 19.2% revenue and Adj. PAT CAGR over FY19-21. We value the stock at 45xFY21 EPS and arrive at a target price of 1433. Retain Accumulate.
Geojit Financial Services
24-Jan-19
Price @ Call: 1397.1
Target: 1478
HOLD
Phillip Capital
24-Jan-19
Price @ Call: 1397.1
Target: 1575
BUY
Prabhudas Lilladher
23-Jan-19
Price @ Call: 1406.55
Target: 1460
ACCUMULATE
Motilal Oswal
23-Jan-19
Price @ Call: 1406.55
Target: 1500
NEUTRAL
ICICIdirect.com
23-Jan-19
Price @ Call: 1406.55
Target: 1600
BUY
ASIANPAINT Share Price Target - Broker Reports - 2018
AnandRathi
30-Oct-18
Price @ Call: 1199.76
Target: 1471
BUY
Geojit Financial Services
30-Oct-18
Price @ Call: 1199.76
Target: 1317
BUY
JM Financial
23-Oct-18
Price @ Call: 1201.45
Target: 1410
HOLD
Dolat Capital
23-Oct-18
Price @ Call: 1201.45
Target: 1302
ACCUMULATE
Prabhudas Lilladher
23-Oct-18
Price @ Call: 1201.45
Target: 1300
ACCUMULATE
AnandRathi
4-Oct-18
Price @ Call: 1251.65
Target: 1471
BUY
Religare
1-Oct-18
Price @ Call: 1284.34
Target: 1515
BUY
Kotak Securities
25-Jul-18
Price @ Call: 1466.7
Target: 1420
SELL
ICICIdirect.com
25-Jul-18
Price @ Call: 1466.7
Target: 1575
HOLD
Dolat Capital
24-Jul-18
Price @ Call: 1433.7
Target: 1500
ACCUMULATE
Indiabulls Ventures
27-Jun-18
Price @ Call: 1274.7
Target: 1500
BUY
Geojit Financial Services
11-May-18
Price @ Call: 1214.7
Target: 1317
HOLD
Kotak Securities
11-May-18
Price @ Call: 1214.7
Target: 1320
BUY
Edelweiss
11-May-18
Price @ Call: 1214.7
Target: 1432
BUY
ICICIdirect.com
11-May-18
Price @ Call: 1275.78
Target: 1350
HOLD
Geojit Financial Services
24-Jan-18
Price @ Call: 1167.6
Target: 1283
BUY
Motilal Oswal
23-Jan-18
Price @ Call: 1176.7
Target: 1270
NEUTRAL
Prabhudas Lilladher
23-Jan-18
Price @ Call: 1176.7
Target: 1278
ACCUMULATE
Kotak Securities
23-Jan-18
Price @ Call: 1176.7
Target: 1300
ACCUMULATE
Edelweiss
22-Jan-18
Price @ Call: 1174.43
Target: 1353
BUY
ASIANPAINT Share Price Target - Broker Reports - 2017
Edelweiss
25-Oct-17
Price @ Call: 1220.5
Target: 1273
BUY
ICICIdirect.com
25-Oct-17
Price @ Call: 1220.5
Target: 1241
BUY
Prabhudas Lilladher
25-Oct-17
Price @ Call: 1220.5
Target: 1239
ACCUMULATE
Motilal Oswal
25-Oct-17
Price @ Call: 1211.04
Target: 1280
NEUTRAL
ICICIdirect.com
26-Jul-17
Price @ Call: 1152
Target: 1181
HOLD
Reliance Securities
26-Jul-17
Price @ Call: 1150
Target: 1170
HOLD
Edelweiss
25-Jul-17
Price @ Call: 1150
Target: 1249
BUY
ICICIdirect.com
15-May-17
Price @ Call: 1138
Target: 1204
HOLD
Kotak Securities
12-May-17
Price @ Call: 1132.3
Target: 1000
REDUCE
Edelweiss
11-May-17
Price @ Call: 1166
Target: 1269
BUY
ICICIdirect.com
24-Jan-17
Price @ Call: 963
Target: 1090
BUY
Religare
24-Jan-17
Price @ Call: 964.7
Target: 850
SELL
Dolat Capital
24-Jan-17
Price @ Call: 964
Target: 1048
ACCUMULATE
Edelweiss
23-Jan-17
Price @ Call: 965
Target: 1191
BUY
ASIANPAINT Share Price Target - Broker Reports - 2016
Geojit Financial Services
24-Nov-16
Price @ Call: 938
Target: 1108
BUY
ICICIdirect.com
26-Oct-16
Price @ Call: 1140
Target: 1275
BUY
Axis Direct
26-Oct-16
Price @ Call: 1140
Target: 980
SELL
Edelweiss
25-Oct-16
Price @ Call: 1134.7
Target: 1228
BUY
Dolat Capital
25-Oct-16
Price @ Call: 1140
Target: 1163
ACCUMULATE
Geojit Financial Services
2-Aug-16
Price @ Call: 1120.35
Target: 1084
REDUCE
ICICIdirect.com
28-Jul-16
Price @ Call: 1147
Target: 1310
BUY
Geojit Financial Services
24-May-16
Price @ Call: 946
Target: 956
HOLD