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Buy Angel One: target of Rs 2230: ICICI Securities

ICICI Securities is bullish on Angel One recommended buy rating on the stock with a target price of Rs 2230 in its research report dated April 21, 2022.

April 21, 2022 / 01:23 PM IST
The research firm ICICI Securities believes earnings of apparel brands and retail companies under their coverage may surprise positively from Q3FY22E as the likely demand recovery may result in better than expected margin performance. Some of the costs savings achieved during pandemic may sustain and coupled with high operating leverage may lead to higher than pre-covid margins from Q3FY22E.  Stocks like Trent, V-Mart and Aditya Birla Fashion and Retail are the preferred picks backed by their strong and consistent track record of execution.

The research firm ICICI Securities believes earnings of apparel brands and retail companies under their coverage may surprise positively from Q3FY22E as the likely demand recovery may result in better than expected margin performance. Some of the costs savings achieved during pandemic may sustain and coupled with high operating leverage may lead to higher than pre-covid margins from Q3FY22E.  Stocks like Trent, V-Mart and Aditya Birla Fashion and Retail are the preferred picks backed by their strong and consistent track record of execution.

 
 
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ICICI Securities research report on Angel One

Angel One (Angel) successfully maintained its business momentum in Q4FY22 with 101%/24% YoY/QoQ PAT growth. We estimate PAT CAGR of 15% over FY22- FY24E and value the stock at 22x FY24E EPS of Rs101 (earlier: FY23E EPS of Rs86.5).

Outlook

Maintain BUY with a revised target price of Rs2,230 (earlier: Rs1,900).

More Info

At 13:21 hrs Angel One was quoting at Rs 1,723.55, up Rs 98.50, or 6.06 percent.

It has touched an intraday high of Rs 1,792.95 and an intraday low of Rs 1,702.00.

It was trading with volumes of 181,693 shares, compared to its thirty day average of 62,434 shares, an increase of 191.02 percent.

In the previous trading session, the share closed down 4.64 percent or Rs 79.05 at Rs 1,625.05.

The share touched its 52-week high Rs 1,782.15 and 52-week low Rs 338.65 on 11 April, 2022 and 22 April, 2021, respectively.

Currently, it is trading 3.29 percent below its 52-week high and 408.95 percent above its 52-week low.

Market capitalisation stands at Rs 14,293.52 crore.

For all recommendations report, click here

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Broker Research
first published: Apr 21, 2022 01:23 pm

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