ICICI Direct has given Buy recommendation for Bharat Electronics with a target price of Rs. 250 in its research report issued on Nov 01, 2021

ICICI Direct’s research report on Bharat Electronics

Bharat Electronics (BEL) is a leading aerospace and defence electronics company. It primarily manufactures advance electronics products. Multi-product, multi-technology- diverse product range including radar, missile systems, electronic warfare & avionics, anti-submarine warfare, electro-optics, home land security, civilian products, etc Focus to increase non-defence share to ~20-25% over two to three years

Outlook

We remain long term positive and retain our BUY rating on the stock We value BEL at Rs 250 i.e. 22x P/E on FY23E EPS

 

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