Indian Infoline or IIFL has maintained a Buy call for GSK consumer
IIFL feels that GSK consumer is well positioned to continue its 18-20 per cent revenue growth trajectory in the next 3-4 years. The headroom to grow in its core malted foods segment continues to be very high, while the company itself is maintaining high velocity of new product variants launches. A strong push on distribution including rural distribution, premiumisation into value added malted foods and continued ramp up in north and west India would be key growth pillars. Input cost inflation notwithstanding, analysts estimate a 20 per cent earnings CAGR over CY10-13. It has projected a target price of Rs 3000 for the stock.
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