0 MIRCELECTR share price target reports by brokerages below. See what is analyst's view on MIRCELECTR 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.
Post revision in earnings, MIRC is trading at 38.6x and 15.3x FY19E and FY20E earnings respectively. Given the recurrent weak earnings in recent quarters, the stock’s valuation has been derated sharply and is at a discount to peers in the consumer durables space. While we remain positive on the consumer durables demand growth story in India we believe increasing level of competition (entry of Chinese players) and cost pressures is likely to keep margins under pressure. However, we would prefer to await for the company to deliver better numbers on the earnings front. Hence, we move our rating two notch lower to “Sell” from “Accumulate” earlier. We also lower our valuation multiple on the stock to 15x FY20E (18x FY20 earnings earlier) and arrive at a price target of Rs 21 (Rs 32 earlier).
SOURCE: Data from D'Market via Quandl. Intraday data delayed 15 minutes.
DISCLAIMER: Information is provided "as is" and solely for informational purposes, not for trading purposes or advice, and may be delayed. Information herein should be regarded as a resource only and should be used at one's own risk. This is not an offer to sell or solicitation to buy any securities and FrontPage will not be liable for any losses incurred or investment(s) made or decisions taken/or not taken based on the information provided herein.