Motilal Oswal has given Buy recommendation for Container Corporation with a target price of Rs. 555 in its research report issued on Feb 06, 2021
Motilal Oswal’s research report on Container Corporation
CCRI’s 3QFY21 earnings surprised positively, with realization growing 7%QoQ, driving a 17% beat on EBITDA. We expect volume growth to remainstrong in the near/longer term from a recovery in EXIM trade/DedicatedFreight Corridor (DFC) project. We have raised our FY21E/FY22E EBITDA by 19%/13% and TP by 22% toINR555 per share on higher realization. Maintain Buy on expected volumeand margin benefits from DFC. Clarity on land licensing fee (LLF) would aidre-rating of the stock.
Outlook
We derive a DCF-based targetprice of INR555/share based on a WACC of 12%.
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