ICICI Direct has given Buy recommendation for PNC Infratech with a target price of Rs. 360 in its research report issued on Aug 13, 2021
ICICI Direct’s research report on PNC Infratech
PNC Infratech has established itself as a strong executor in roads, water infra and airport runway segments. Additionally, superior execution capabilities via ownership of modern equipment and in-house teams enables it to deliver projects on-time. PNC has executed 70 major infrastructure projects till date.Reported 19.8% revenue CAGR in FY16-21. Operating margin was in the range of 13-15% Proficient execution, robust return ratios (RoCE: ~20%)
We maintain our BUY rating on the company We value PNC at Rs 360/share.