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PHOENIXLTD Share Price Target
Phoenix Mills Ltd.
Sector: Construction
Sector: Construction
PHOENIXLTD Share Price *
755.1 -1.35 (-0.18%)
* (quote may be delayed)
PHOENIXLTD Share Price Forecast - Consensus
| No. of reports in last year | 16 |
| No. of analysts | 5 |
| Average Consensus Forecast | 773.63 |
| Consensus Potential | 1.83% |
PHOENIXLTD Share Price Target - Broker Reports - 2019
Karvy Stock Broking
16-Nov-19
Price @ Call: 714.14
Target: 820
BUY
As India’s largest mall owners and operators, Phoenix Mills Ltd is evolving into a trusted proxy for the consumption trends of India’s urban middle class. PHNX remains India’s largest retail mall developer and operator and the expansion ofretail & office space portfolio will help it achieve the next leg of growth. We retain“BUY” rating on the stock with a NAV based TP of Rs. 820/share.
Nirmal Bang
13-Nov-19
Price @ Call: 741.1
Target: 900
BUY
Management on the call indicated that growth in mall rentals in FY21-23E will be driven by lease renewal in the mall rental. The leases are expected to be renewed with a rental increase of 10-20%. Further, PML has 5 retail assets with leasable area of 4.90mn sq. ft. under construction and management highlighted that construction is underway as per schedule and the malls are expected to be operational between FY20-23E. We maintain Buy on the stock with a target price (TP) of Rs900 based on Sep FY22E SOTP valuation.
Nirmal Bang
13-Aug-19
Price @ Call: 645.18
Target: 810
BUY
We have valued PHCPL using SOTP valuation. The commercial, retail and residential assets are valued on NAV basis and the hospitality assets are valued on EV/EBITDA basis. The transaction is expected to be completed at a price of 15% premium to the closing price of PML as on 6th August, 2019 (Rs624) implying transaction price of Rs718. Based on our valuation, the transaction is being completed at 17% premium to our value.
Nirmal Bang
11-Aug-19
Price @ Call: 638.95
Target: 810
BUY
Management on the call indicated that growth in mall rentals in FY21-23E will be driven by lease renewal in the mall rental. The leases are expected to be renewed with a rental increase of 30-40%. Further, PML has 5 retail assets with leasable area of 4.90mn sq. ft. under construction and management highlighted that construction is underway as per schedule and the malls are expected to be operational between FY20-23E. We maintain Buy on the stock with a target price (TP) of Rs810 based on FY21E SOTP valuation.
Karvy Stock Broking
9-Aug-19
Price @ Call: 638.95
Target: 735
BUY
As India’s largest mall owners and operators, the Phoenix Mills Limited is evolving into a trusted proxy for the consumption trends of India’s urban middle class. PHNX remains India’s largest retail mall developer and operator and the expansion ofretail & office space portfolio will help it achieve the next leg of growth. We retain“BUY” rating on the stock with a NAV based TP of Rs. 735/share.
ICICIdirect.com
8-Aug-19
Price @ Call: 639.07
Target: 765
BUY
PML is currently trading at 12.8x FY20E EV/EBITDA. We remain positive on PML given its quasi play on India’s consumption story, quality of retail & commercial assets, healthy balance sheet & strategic expansion plans. We maintain BUY recommendation with an SoTP based TP of | 765/share.
Nirmal Bang
2-Aug-19
Price @ Call: 640.31
Target: 810
BUY
Our TP of Rs810 (earlier Rs791) for PML is based on FY21E SOTP valuation. We have valued retail, residential and office properties of PML based on FY21E NAV and the hotel business has been valued through the discounted cash flow method. Further, our optimism is supported by: (1) Anticipated continued strong growth in rental revenue of operational malls (2) Steady growth in office space rentals and (3) Strong growth in hotels because of cyclical upturn in the sector The increase in TP is driven by: (1) Rise in occupancy of major malls (2) Reduction in net debt and (3) Change in capitalization rate to 9% p.a. (earlier 10%).
Karvy Stock Broking
21-May-19
Price @ Call: 600.25
Target: 735
BUY
As India’s largest mall owners and operators, the Phoenix Mills Ltd is evolving into a trusted proxy for the consumption trends of India’s urban middle class. PHNX remains India’s largest retail mall developer and operator and the CPPIB deal will help it achieve the next leg of growth. We retain “BUY” rating on the stock with a TP of Rs. 735/share.
Kotak Securities
20-May-19
Price @ Call: 599.05
Target: 754
BUY
At current price of Rs 600, stock is trading at 26.3x and 25x P/E and 13.1x and 12.4x EV/EBITDA on FY20/21 consolidated estimates respectively. We continue to remain positive on the company and roll forward our price target on FY21 estimates. We maintain BUY with a revised price target of Rs 754 (Rs 707 earlier) based on sum of the parts methodology on FY21 estimates.
ICICIdirect.com
20-May-19
Price @ Call: 609.71
Target: 765
BUY
PML is currently trading at 12.6x FY20E EV/EBITDA. We like PML given its quality of retail and commercial assets, healthy balance sheet, strategic expansion plans ahead and quasi play on India’s consumption story. We maintain our BUY rating on the stock with an SoTP based target price of Rs 765/share.
Motilal Oswal
17-May-19
Price @ Call: 622.7
Target: 785
BUY
We believe that PHNX offers a unique way to play India’s retail growth story due to its (a) strong track record of execution and (b) scalability, as reflected in the line-up of five new under-construction malls and (c) robust cash generation. We value PHNX’s retail assets based on the DCF-based NAV approach, assuming a cap rate of 8.5% (HSP - 8%) and a discount rate of 13.5%. We maintain Buy with an SOTP-based TP of INR 785 (upside 27%).
Motilal Oswal
25-Feb-19
Price @ Call: 590.2
Target: 708
BUY
We believe that PHNX is a unique play in India’s retail growth story due to its(a) experienced management with successful track record of execution, (b) scalability as reflected in the line-up of five new under-construction malls, and (c) robust cash generation. We value PHNX’s retail assets based on DCF-based NAV approach, assuming a cap rate of 8.5% (HSP - 8%) and a discount rate of 13.5%. We maintain Buy with an SOTP-based TP of INR708 (upside 20%).
Nirmal Bang
11-Feb-19
Price @ Call: 587.05
Target: 791
BUY
Motilal Oswal
11-Feb-19
Price @ Call: 587.05
Target: 708
BUY
ICICIdirect.com
11-Feb-19
Price @ Call: 587.05
Target: 775
BUY
Kotak Securities
11-Feb-19
Price @ Call: 587.05
Target: 707
BUY
PHOENIXLTD Share Price Target - Broker Reports - 2018
ICICIdirect.com
5-Dec-18
Price @ Call: 621.5
Target: 775
BUY
Nirmal Bang
12-Nov-18
Price @ Call: 593.38
Target: 862
BUY
Kotak Securities
9-Nov-18
Price @ Call: 596
Target: 707
BUY
Motilal Oswal
6-Nov-18
Price @ Call: 604.24
Target: 699
BUY
Motilal Oswal
1-Oct-18
Price @ Call: 546.94
Target: 720
BUY
Kotak Securities
28-Aug-18
Price @ Call: 607.67
Target: 707
BUY
Kotak Securities
10-Aug-18
Price @ Call: 647
Target: 707
ACCUMULATE
Motilal Oswal
10-Aug-18
Price @ Call: 647
Target: 757
BUY
Motilal Oswal
26-Jun-18
Price @ Call: 637
Target: 757
BUY
Kotak Securities
11-May-18
Price @ Call: 611
Target: 676
ACCUMULATE
Motilal Oswal
10-May-18
Price @ Call: 617.9
Target: 737
BUY
Motilal Oswal
19-Apr-18
Price @ Call: 605.5
Target: 732
BUY
Axis Direct
22-Feb-18
Price @ Call: 587
Target: 707
BUY
Kotak Securities
16-Feb-18
Price @ Call: 606.03
Target: 672
BUY
JM Financial
15-Feb-18
Price @ Call: 599.31
Target: 650
BUY
PHOENIXLTD Share Price Target - Broker Reports - 2017
Axis Direct
27-Nov-17
Price @ Call: 513.57
Target: 605
BUY
Kotak Securities
15-Nov-17
Price @ Call: 506
Target: 594
BUY
Axis Direct
12-Apr-17
Price @ Call: 403
Target: 528
BUY
Axis Direct
23-Feb-17
Price @ Call: 371
Target: 413
BUY
PHOENIXLTD Share Price Target - Broker Reports - 2016
Kotak Securities
17-Nov-16
Price @ Call: 334
Target: 366
BUY
Axis Direct
16-Nov-16
Price @ Call: 309
Target: 388
BUY
Axis Direct
16-Aug-16
Price @ Call: 390.1
Target: 441
BUY
JM Financial
18-May-16
Price @ Call: 319
Target: 425
BUY