PICK OF THE WEEK
Sun, Dec 20 2020 12:21 IST |
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Recommendation by Centrum Broking
ITC Limited Buy
Recommendation by Centrum Broking
We believe, with improved disclosures recommended by us (ESG roadmap, 2QFY21 results presentation) should gain confidence, and yet renewed focus on maintaining cigarette market share, tailwinds from foods business, strong FCF, high dividend yield and compelling valuations proved to be attractive for long term investors. We move to FY23E estimates and reiterate strong Buy rating with DCF-based Target price of Rs.353, implying 23.6x FY23E EPS. Key risks are sharp increase in any form of taxation & higher leaf tobacco prices.
Navin Fluorine Buy