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BHEL Share Price Target

Bharat Heavy Electricals Ltd.
NSE: BHEL | BSE: 500103 | ISIN: INE257A01026 | Sector: Engineering

BHEL Rating

3.3/5 (8 Ratings)
BHEL Share Price *
35.1 -0.3 (-0.85%)
* (quote may be delayed)

8 BHEL share price target reports by brokerages below. See what is analyst's view on BHEL share price forecast, rating, estimates, valuation and prediction behind the target. You may use these research report forecasts for long-term to medium term for your investment or trades in 2020.


You can also find BHEL share price target tomorrow or next week from BHEL discussion forum.

BHEL Share Price Forecast - Consensus
No. of reports in last year
8
No. of analysts
5
Average Consensus Forecast
71.88
Consensus Potential
48.67%

BHEL Share Price Target - Broker Reports - 2020

12-Feb-20
Price @ Call: 38.55
Target: 47
HOLD
BHEL’s 3QFY20 results were lower than our and consensus estimates. Execution continues to be subdued with ~23% YoY decline in revenues, led by de-growth in both Power and Industry segment. Order inflow de-grew by 23% YoY due to muted ordering activity and overall stress in power sector. Current order backlog stands at Rs1.1trn and BHEL is L1 orders worth Rs130bn. While collectable debtors have gone down by ~10% to ~Rs143bn, total debtors (including deferred debtors) continues to be at elevated levels of Rs380bn as on 3QFY20. The company emphasized on strong focus on cash collection and execution going ahead. We have cut FY20/FY21E earnings by 15%/3% factoring weak 9MFY20 numbers and adverse macro environment (unfavorable payment terms, doubtful receivables and lower upfront advances). The stock is currently trading at 25.5/9.9x FY20/21E. We remain structurally negative on the stock given its ballooning debt levels, concern receivables and weak fundamentals. Thus, we maintain Hold rating on the stock with revised TP of Rs47 (12x FY21E).
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BHEL Share Price Target - Broker Reports - 2019

14-Nov-19
Price @ Call: 54.2
Target: 60
HOLD
BHEL’s 2QFY20 results were lower than our and consensus estimates.Execution continues to be muted with ~9% YoY decline in revenue, mainly in the Power business which declined for third consecutive quarter. However, industry segment recovered on QoQ basis with strong double digit growth, partially cushioned to decline in Power segment. Order inflow revived with 44% YoY growth mainly led by 61% YoY growth in Power segment orders (FGD/Nuclear Projects). Current order backlog stands at Rs1.1 trn and favorably placed in bids worth Rs210 bn. While collectable debtors have gone down by ~12% at Rs140 bn, total debtors (including deferred debtors) continues to be at elevated level of Rs376 bn at the end of 2QFY20. The company emphasized on strong focus on cash collection and execution going ahead. We have cut FY20/FY21E earnings factoring weak 1HFY20 numbers and adverse macro environment (unfavorable payment terms, uncertain account receivables and lower upfront advances). The stock is currently trading at 16/12x FY20/21E. We maintain Hold on the stock with revised TP of Rs60 (13x FY21E).
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9-Aug-19
Price @ Call: 57.55
Target: 63
ACCUMULATE
Further, deferment in award of many tenders (including those where BHEL is L1) continues to affect revenue visibility. Factoring the same, we have cut our earnings estimates for FY20/FY21 by 29%/23% and retained Accumulate rating on BHEL with a revised target price of Rs63 (from Rs81 earlier) based on 15x FY21E earnings.
... Read more

25-Jun-19
Price @ Call: 73.19
Target: 77
HOLD
Outlook & Valuations... BHEL’s robust executable orders (3.6x FY19 revenue) and strategy to diversify orders to non-coal business, technology collaborations for emission control systems and expected pick-up in execution rate gives reasonable revenue visibility, going forward. However, receivables management from major customers will be closely watched. The company is expected to maintain growth momentum with revenue CAGR of 6.0% and PAT CAGR of 14.1% in FY19-21E. We value the stock at a P/E of 15x on FY21E EPS and ascribe a target price of Rs77 and maintain a Hold rating.
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29-May-19
Price @ Call: 72.6
Target: 75
HOLD
Bhel’s robust executable orders (3.6x FY19 revenue) and strategy todiversify orders to non-coal business, technology collaborations for emission control systems and expected pick-up in execution rate gives reasonable revenue visibility, going forward. However, receivables management from major customers will be closely watched. The company is expected to maintain growth momentum with revenue CAGR of 6.0% and PAT CAGR of 14.1% in FY19-21E. We revise our fair value to | 75 (17x FY21EPS) and maintain HOLD rating. However, long term power sector outlook remains key concern.
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28-May-19
Price @ Call: 72.7
Target: 81
ACCUMULATE
With a rising preference towards renewable energy generation and transmission loss reduction, we are structurally negative on thermal power capacity addition beyond 10GW per annum in India, clearly insufficient for a much higher installed capacity base of the BTG industry (35GW). With insufficient order placement activity in the industry, 6% RoE and 7% RoCE in FY21E and a high debtor position, we believe BHEL is not out of the woods yet.
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28-May-19
Price @ Call: 72.7
Target: 77
HOLD
The company has restated its FY18 receivables in the reported number and seems to have classified some of it in the "Other Current" and "Other Non-current assets", the overall (addition of receivables and other assets) seems to have slightly increased. Total Debtors (including deferred debtors) have gone up from Rs329 bn at the end of FY18 to Rs346 bn at the end of FY19. The company has signed MoU for revenues of Rs330 bn for FY20 (+12%YoY). While there could be visible earnings growth in the near-term, adverse macro environment (unfavorable payment terms, uncertain account receivables and lower upfront advances) may delay the recovery. We recommend Hold on the stock with TP of Rs77 (13x FY21E).
... Read more

25-Apr-19
Price @ Call: 73.45
Target: 95
BUY

6-Feb-19
Price @ Call: 58.9
Target: 47
SELL

BHEL Share Price Target - Broker Reports - 2018

27-Jul-18
Price @ Call: 70.9
Target: 75
HOLD

27-Jul-18
Price @ Call: 70.9
Target: 86
ACCUMULATE

26-Jul-18
Price @ Call: 71.6
Target: 70
SELL

26-Jul-18
Price @ Call: 71.6
Target: 60
SELL

31-May-18
Price @ Call: 83.52
Target: 110
BUY

30-May-18
Price @ Call: 83.6
Target: 70
SELL

16-Feb-18
Price @ Call: 94.93
Target: 141
BUY

9-Feb-18
Price @ Call: 95.45
Target: 80
SELL

9-Feb-18
Price @ Call: 95.45
Target: 110
BUY

BHEL Share Price Target - Broker Reports - 2017

18-Dec-17
Price @ Call: 89.9
Target: 110
BUY

7-Dec-17
Price @ Call: 90.35
Target: 110
BUY

8-Nov-17
Price @ Call: 93.15
Target: 78
SELL

31-Oct-17
Price @ Call: 95.8
Target: 131
BUY

15-Sep-17
Price @ Call: 91.6
Target: 71.33
SELL

18-Aug-17
Price @ Call: 86.17
Target: 133.33
BUY

11-Aug-17
Price @ Call: 84.3
Target: 66.67
SELL

30-May-17
Price @ Call: 91.73
Target: 106.67
HOLD

30-May-17
Price @ Call: 102
Target: 120
BUY

31-May-17
Price @ Call: 93.33
Target: 95.33
HOLD

14-Feb-17
Price @ Call: 103.33
Target: 140
BUY

7-Feb-17
Price @ Call: 101.4
Target: 66.67
SELL

BHEL Share Price Target - Broker Reports - 2016

30-May-16
Price @ Call: 128.2
Target: 75
SELL

8-Nov-16
Price @ Call: 143.2
Target: 90
SELL

7-Sep-16
Price @ Call: 153.14
Target: 120
SELL

8-Sep-16
Price @ Call: 155.25
Target: 185
BUY

14-Jul-16
Price @ Call: 142.85
Target: 75
SELL

  • BHEL - Share Price Target Potential

    keyboard_arrow_down
    BrokerageTargetPotential
    Prabhudas Lilladher4724.68%
    Nirmal Bang6343.81%
    Geojit Financial Services7754.03%
    ICICIdirect.com7552.80%
    Indiabulls Ventures9562.74%
  • BHEL Share Price Target Today- Technical Pivot Points (Classic)

    keyboard_arrow_down
    Upside Target 336.7
    Upside Target 236.3
    Upside Target 135.7
    Pivot35.3
    Downside Target 134.7
    Downside Target 234.3
    Downside Target 333.7
  • BHEL Share Price Target weekly- Technical Pivot Points (Classic)

    keyboard_arrow_down
    Upside Target 342.73
    Upside Target 241.27
    Upside Target 138.73
    Pivot37.27
    Downside Target 134.73
    Downside Target 233.27
    Downside Target 330.73
  • BHEL Share Price Target monthly- Technical Pivot Points (Classic)

    keyboard_arrow_down
    Upside Target 352.02
    Upside Target 249.88
    Upside Target 146.32
    Pivot44.18
    Downside Target 140.62
    Downside Target 238.48
    Downside Target 334.92
  • BHEL Share Price Target today- Technical Pivot Points (Fibonacci)

    keyboard_arrow_down
    Upside Target 336.3
    Upside Target 235.92
    Upside Target 135.68
    Pivot35.3
    Downside Target 134.92
    Downside Target 234.68
    Downside Target 334.3
  • BHEL Share Price Target weekly- Technical Pivot Points (Fibonacci)

    keyboard_arrow_down
    Upside Target 341.27
    Upside Target 239.74
    Upside Target 138.79
    Pivot37.27
    Downside Target 135.74
    Downside Target 234.79
    Downside Target 333.27
  • BHEL Share Price Target monthly- Technical Pivot Points (Fibonacci)

    keyboard_arrow_down
    Upside Target 349.88
    Upside Target 247.71
    Upside Target 146.36
    Pivot44.18
    Downside Target 142.01
    Downside Target 240.66
    Downside Target 338.48
SOURCE: Data from D'Market via Quandl. Intraday data delayed 15 minutes.
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