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UBL Consensus Forecast

No. of reports in last year
5
No. of analysts
4
Average Consensus Forecast
1502.2
Consensus Potential
29.38%

UBL Price Target Potential

BrokerageTargetPotential
Dolat Capital147628.48%
Motilal Oswal134021.22%
Nirmal Bang146527.94%
ICICIdirect.com162034.83%

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UBL Ratings

Long term UBL rating by FrontPage users
4.5/5 (4 Ratings)

5 UBL share price target reports by brokerages below. See what is analyst's view on UBL 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.
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UBL Share Price Target

UBL Share Price Target - Broker Reports - 2020

10-Feb-20
Price @ Call: 1302.33
Target: 1476
ACCUMULATE
UBL reported robust FY18 and FY19 viz. PAT growth of 72/42% YoY respectively. Though FY18 partly reflects rebound from low base led by highway ban impact, FY19 is a fair reflection of what a well-run brewer is capable of provided externalities are stable-to-marginally positive. We like UBL owing to (a) strong volume growth potential of beer in India and (b) its superior execution. India is one of the few markets where beer and spirits consumptions are broadly equal vs. ~65:35 mix globally. Reiterate our ACCUMULATE rating with TP of Rs 1,476 @ 45x FY22E EPS (earlier Rs1,420 @ 50x Sep-21E EPS). Historically, UBL has traded at ~60x 1-yr forward earnings in trailing four years. We have reduced our target multiple to factor the regulatory uncertainties and weak short term prognosis.
... Read more

UBL Share Price Target - Broker Reports - 2019

8-Nov-19
Price @ Call: 1263.78
Target: 1340
NEUTRAL
Significantmissin2QFY20hasresultedin17.1%EPS impact for FY20. However, the impact is more moderate for FY21 at 2.3% cut to EPS as many factors affecting 1HFY20 were transient in nature. While we believe that long-term volume and earnings growth opportunity (FY19 PAT at only USD80m) is immense for India’s largest beer player with strong entry barriers in the form of distribution, brewery reach, scale and brands, valuations are fair at 47x FY21 EPS and 25.6x FY21 EV/EBITDA. Maintain Neutral.
... Read more
11-Nov-19
Price @ Call: 1256.37
Target: 1465
BUY
We believe that the launch of craft beer and scaling up of non-alcoholic beverage business will support the topline growth along with aiding premiumisation. Company remains well positioned to deliver above industry earnings growth over FY20-22, as the raw material cost-related headwinds begin to come down (likely in 2HFY20 itself) coupled with operating leverage from strong topline growth. We have retained our Buy rating on UBBL with a target price (TP) of Rs1,465 (from Rs1,480 earlier) based on a EV/EBITDAmultiple of 25x on Sep’21 EBITDA.
... Read more
18-Oct-19
Price @ Call: 1326
Target: 1620
BUY
Beer volumes have been growing at 8% CAGR in the past five years while UB market share has remained at ~52%. We expect volumes to grow at 8.5% CAGR in FY19-21. Being an underpenetrated segment (per capita ~2 litre consumption) and a youth centric status of ready to drink social drink, enables the sector to hold long term growth potential. Premiumisation, along with price hikes in existing portfolio and a favourable state mix, would also enable the company to negate the rising input costs. Incorporating the impact of recent tax rate cut, we upgrade our earnings estimates, thereby having a direct positive impact on cash flow generation. We have a BUY rating with a revised Target price of Rs1620 (~43x FY21 EPS).
... Read more
16-Aug-19
Price @ Call: 1349.29
Target: 1610
BUY
We continue to maintain our Buy rating on UBL considering that alcoholic beverages (essentially beer) will be among the fast-growing segment in the consumption space. We have retained Buy rating on UBL with a TP of Rs1,610 (from Rs1,640 earlier) based on a P/E multiple of 48x, implying an upside of 18% from the current market price.
... Read more
22-May-19
Price @ Call: 1427.75
Target: 1640
BUY
Cost Challenges Surpass Expectations. Valuation and recommendation: We continue to maintain our Buy rating on UBL considering that alcoholic beverages (essentially beer) will be among the fast-growing segment in the consumption space. After a slight revision to our earnings estimates for FY20 and FY21, we have retained Buy rating on UBL with a target price of Rs1,640 (from Rs1,620 earlier) based on a P/E multiple of 48x, implying an upside of 15% from the current market price.
... Read more
22-May-19
Price @ Call: 1427.75
Target: 1500
HOLD
"Premiumisation to drive earnings ahead." Valuation and Outlook: With a meagre 90000 outlets serving beer to an Indian population of 130 crore, the Indian beer industry is considered to be under penetrated (per capita consumption of ~2 litre). From a regulatory perspective, the worst appears to be over with fading of highway ban and stable state excise policies, which would create a favourable consumer pricing scenario and assist overall volume growth. In addition to the same, formalisation of the sector (corporation model) would benefit large players like UBL. However, due to recent run-up in the stock price, we change our recommendation to HOLD, valuing the company at a target price of | 1500 (~46x FY21 EPS).
... Read more
19-Feb-19
Price @ Call: 1344.45
Target: 1590
BUY
Best-in-Class Performance.
Valuation and recommendation: We continue to maintain our Buy rating on UBL considering that alcoholic beverages (essentially beer) will be among the fast-growing segment in the consumption space. In line with the improved performance, we have increased our estimates by around 4% for FY19/FY20. We also raised our target price on the stock to Rs1,590 (from Rs1,525 earlier) to factor in the upward revision of our estimates. Our target price multiple of 50x is consistent with the long-term trading average of the stock and the trading multiple assigned to other market leaders in the consumption space.
... Read more
15-Feb-19
Price @ Call: 1403.95
Target: 1490
BUY
With a meagre 90000 outlets serving beer to an Indian population of 130 crore, the Indian beer industry is considered to be under penetrated (per capita consumption of ~2 litre). From a regulatory perspective, the worst appears to be over with fading away of highway ban and stable state excise policies that would create a favourable consumer pricing scenario and assist overall volume growth. In addition, formalisation of the sector (corporation model) would benefit large players like UBL. Also, UBL’s new initiatives like thrust towards premiumisation of product portfolio through new launches and introduction of brands from the Heineken portfolio and entry into non-alcoholic segment could provide further impetus to revenue growth. We introduce FY21 estimates and maintain BUY on the stock with a target price of Rs 1490 (valuing at ~48x FY21 EPS).
... Read more
15-Feb-19
Price @ Call: 1403.95
Target: 1660
BUY
We raise our FY19/20 EPS estimate by 4.2%/2.9% to factor in the better-than-expected 3QFY19 performance. Long-term volume and earnings growth opportunity (FY18 PAT at USD 55m) is immense for India’s largest beer player with strong barriers to entry in the form of distribution, brewery reach, scale and brands. Operating environment appears to be improving at a healthy pace, market share gains continue and profitability is increasing, indicating healthy pace of earnings growth ahead. Election-related disruptions in the summer of 2018 could be a near-term dampener. The anti- trust issue remains an overhang, leading us to now value UBBL in line with peer multiples, instead of 10% premium earlier. Valuing the company at 28x Dec’20E EV/EBITDA, we derive a target price of INR1,660. Maintain Buy.
... Read more
11-Feb-19
Price @ Call: 1381.35
Target: 1635
BUY
8-Jan-19
Price @ Call: 1389.9
Target: 1650
BUY

UBL Share Price Target - Broker Reports - 2018

5-Sep-18
Price @ Call: 1307.95
Target: 1730
BUY
3-Sep-18
Price @ Call: 1402
Target: 1100
SELL
17-Aug-18
Price @ Call: 1389.36
Target: 1410
BUY
14-Aug-18
Price @ Call: 1300
Target: 1550
BUY
13-Aug-18
Price @ Call: 1185
Target: 1410
BUY
27-Jun-18
Price @ Call: 1177.53
Target: 1450
BUY
31-May-18
Price @ Call: 1184.45
Target: 1480
BUY
5-Feb-18
Price @ Call: 1192.57
Target: 1380
BUY

UBL Share Price Target - Broker Reports - 2017

19-Dec-17
Price @ Call: 1064.45
Target: 1220
BUY
10-Nov-17
Price @ Call: 1101.25
Target: 1320
BUY
21-Sep-17
Price @ Call: 799.65
Target: 980
BUY
6-Sep-17
Price @ Call: 804.85
Target: 675
SELL
19-May-17
Price @ Call: 786.95
Target: 650
SELL
9-Feb-17
Price @ Call: 804
Target: 1044
BUY
13-Feb-17
Price @ Call: 780
Target: 875
BUY

UBL Share Price Target - Broker Reports - 2016

11-Nov-16
Price @ Call: 890
Target: 995
BUY
4-Nov-16
Price @ Call: 876
Target: 1088
BUY
3-Oct-16
Price @ Call: 907
Target: 1120
BUY
18-Aug-16
Price @ Call: 800
Target: 900
BUY
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  • UBL Share Price Target Today- Technical Pivot Points (Classic)

    keyboard_arrow_down
    Upside Target 31,094.92
    Upside Target 21,080.88
    Upside Target 11,059.07
    Pivot1,045.03
    Downside Target 11,023.22
    Downside Target 21,009.18
    Downside Target 3987.37
  • UBL Share Price Target weekly- Technical Pivot Points (Classic)

    keyboard_arrow_down
    Upside Target 31,135.72
    Upside Target 21,101.28
    Upside Target 11,069.27
    Pivot1,034.83
    Downside Target 11,002.82
    Downside Target 2968.38
    Downside Target 3936.37
  • UBL Share Price Target monthly- Technical Pivot Points (Classic)

    keyboard_arrow_down
    Upside Target 31,273.37
    Upside Target 21,180.38
    Upside Target 11,109.07
    Pivot1,016.08
    Downside Target 1944.77
    Downside Target 2851.78
    Downside Target 3780.47
  • UBL Share Price Target today- Technical Pivot Points (Fibonacci)

    keyboard_arrow_down
    Upside Target 31,080.88
    Upside Target 21,067.19
    Upside Target 11,058.73
    Pivot1,045.03
    Downside Target 11,031.34
    Downside Target 21,022.88
    Downside Target 31,009.18
  • UBL Share Price Target weekly- Technical Pivot Points (Fibonacci)

    keyboard_arrow_down
    Upside Target 31,101.28
    Upside Target 21,075.9
    Upside Target 11,060.22
    Pivot1,034.83
    Downside Target 11,009.45
    Downside Target 2993.77
    Downside Target 3968.38
  • UBL Share Price Target monthly- Technical Pivot Points (Fibonacci)

    keyboard_arrow_down
    Upside Target 31,180.38
    Upside Target 21,117.62
    Upside Target 11,078.85
    Pivot1,016.08
    Downside Target 1953.32
    Downside Target 2914.55
    Downside Target 3851.78
SOURCE: Data from D'Market via Quandl. Intraday data delayed 15 minutes.
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