Citi maintains Buy on Exide Industries

Citi Research has maintained Buy rating on Exide Industries with a target price of Rs.183 from the current market price of Rs.142.10. The target price is 28.8% higher compared to the current market price.

The research report says that the price hikes, coupled with an increase in market share should result in higher margins for Exide. The full impact of these two factors should be evident over 4Q13-1Q14 and it believes the recent weakness in stock price provides a buying opportunity, given long-term positive catalysts remain intact.

Source : Equity Bulls

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