0 THANGAMAYL share price target reports by brokerages below. See what is analyst's view on THANGAMAYL 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.
Consequently, we downgrade our earnings expectations (EPS est. downgrade by ~5/4% for FY19/20E) to account for the subdued festive quarter. We expect volumes to pick up in near-to-mid term led by new store opening (opened 2 new stores in Jan 2019) and stability in gold prices. Given the expected growth profile (TJL to clock ~12%/30% revenue/PAT CAGR over FY18-21E), TJL offers significant Financial Summary margin of safety (trading at 9x Dec-20E EPS) for a company with a healing balance sheet, cautious stance on expansion and a predominantly sticky plain gold jewellery customer profile. We reiterate a BUY rating with DCF based TP of Rs 590/sh (implied P/E - 17x Dec-20E EPS).
SOURCE: Data from D'Market via Quandl. Intraday data delayed 15 minutes.
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