Just Dial Shares Gained 4.5 Percent As Nomura Has Maintained Its Buy Rating - Dollar Advisory Financial Services

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Friday 17 November 2017

Just Dial Shares Gained 4.5 Percent As Nomura Has Maintained Its Buy Rating

Just Dial shares gained 4.5 percent as Nomura has maintained its buy rating on the stock with increased target price at Rs 635 from Rs 590 per share.

Just Dial remains the most cost-effective SME advertising platform in India, with scope for coverage expansion in tier 2/3 cities, the research house said while expecting an EPS to grow at CAGR of 19 percent over FY17-20 and revenue CAGR of 10 percent over FY17-19

Improved traffic growth trends, stable realisations and operational efficiencies are key positives, it feels.

Nomura said the company has now renewed focus on its core search business, but competition from Google or vertical players is an issue.

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