ICICI Direct has given Buy recommendation for United Spirits recommended buy rating on the stock with a target price of Rs 1050 in its research rep with a target price of Rs. 1050 in its research report issued on Jan 28, 2022

ICICI Direct’s research report on United Spirits

United Spirits (USL) is India’s leading alcoholic beverage company and subsidiary of global leader Diageo plc. It manufactures, sells premium liquor brands such as Johnnie Walker, Black Dog, Black & White, Vat 69, Antiquity, Signature, Royal Challenge, McDowell’s No 1, Smirnoff and Captain Morgan. Prestige and above segment comprises 67% of its revenues • It aims to grow its revenues in double digits and expects its operating margin to remain in mid to high-teen levels in the medium term.

Outlook

We remain positive on the long term growth prospects of the stock and maintain our BUY recommendation. We value USL at Rs 1050 i.e. 52x P/E on FY24E EPS.

More Info on Trent

At 17:30 United Spirits was quoting at Rs 855.45, up Rs 13.45, or 1.60 percent.

It has touched an intraday high of Rs 875.05 and an intraday low of Rs 846.45.

It was trading with volumes of 44,650 shares, compared to its thirty day average of 52,413 shares, a decrease of -14.81 percent.

In the previous trading session, the share closed down 3.89 percent or Rs 34.05 at Rs 842.00.

The share touched its 52-week high Rs 1,019.75 and 52-week low Rs 495.15 on 09 November, 2021 and 24 February, 2021, respectively.

Currently, it is trading 16.11 percent below its 52-week high and 72.77 percent above its 52-week low.

Market capitalisation stands at Rs 62,160.31 crore.

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