Buy Action Construction Equipment; target of Rs 320: ICICI Direct

ICICI Direct is bullish on Action Construction Equipment has recommended buy rating on the stock with a target price of Rs 320 in its research report dated November 10, 2021.

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ICICI Direct’s research report on Action Construction Equipment

Action Construction Equipment (ACE) is an Indian construction equipment and material handling company. ACE has eight manufacturing and one R&D site in Faridabad, Haryana The company has a capacity of 12000 construction equipment and 9000 tractors annually ACE’s product portfolio is divided into four main categories viz. agricultural equipment, construction equipment, road construction equipment and earth-moving machinery

Outlook

We continue to remain positive and retain our BUY rating on the stock We value ACE at Rs 320 i.e. 15x EV/EBIDTA (FY23E).

For all recommendations report, click here

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