1 PTC share price target reports by brokerages below. See what is analyst's view on PTC 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.
Maintain Hold with unchanged PT of Rs. 65: We have increased our FY2020 and FY2021 earnings estimates, assuming a lower effective tax rate (in line with the government’s recent move to cut corporate tax rate to 25.2%). We expect decent growth in power trading volume as the company has operationalised new medium term PPAs but draft regulations for power trading increase risk, owing to a proposal to cap maximum margins at Re. 1 paisa/unit for back-to-back contracts. Additionally, PFS’ weaker financial position (due to a liquidity crisis) could affect /delay value unlocking, despite the management’s efforts to divest stake. Hence, we maintain our Hold rating on PTC India with an unchanged price target (PT) of Rs. 65.
Maintain Hold with a revised PT of Rs. 65: We have lowered our FY2020 and FY2021 earnings estimates, as we assumelower trading margins (to reflect decline in Q1FY20 gross margins) andlower other income. The company’s intention to dilute/divest stake in stressed subsidiaries seems in the right direction, but deterioratingfinancial performance of PTC India Financial Services (due to liquidity crisis) could impact/delay value unlocking. Hence, we maintain our Hold rating on the stock with a revised PT of Rs. 65.
SOURCE: Data from D'Market via Quandl. Intraday data delayed 15 minutes.
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