Dabur
CLSA ON DABUR
* CLSA downgrades Dabur to OUTPERFORM from BUY, target raised to Rs 700/sh
* Co Remains Our Preferred Consumer Pick Even As We Lower Rating
* G1 Results Better Than Expected With Sales & EBITDA Up 32%, 33% Respectively
* Co Confident On Driving Double-digit Growth In FY22 & Sustaining Margin YoY
* It Strengthened The Fundamentals Of Its Non healthcare Portfolio
* We Lift Our Multiple To 55x From 52x
* Lower Our Rating On The Back Of A Strong Re-rating
* DOWNGRADE OUTPERFORM FROM BUY TARGET:700 (PREVTGT:650)
Dabur
