November 1, 2018 / 6:22 AM / 6 months ago

BUZZ-India's Dabur hits 3-mth low; brokerages cut TP on weak Q2 show

** Shares of consumer goods company Dabur India Ltd fall as much as 3.5 pct to 371.35 rupees - lowest since July 26

** Company says its Sept-qtr net profit rose 4.1 pct, but missed market estimates

** HSBC says Q2 sales/earnings missed consensus by 3-6 pct due to weak domestic volumes and cost pressures in international business; cuts target price to 460 rupees from 490 rupees, retains “buy”

** Dabur’s Q2 revenue, EBITDA and PAT which grew y/y 8.5 pct, 7.4 pct and 4.1 pct, respectively, came slightly below our estimates - Jefferies

** Jefferies cuts price target to 460 rupees from 520 rupees, maintains “buy”

** Deutsche Bank says sales hit by shift of festive sales to Q3; gross profit margin contracted 75bps y/y to 49.4 pct due to high input costs

** Deutsche Bank cuts price target to 475 rupees from 525 rupees, reiterates “buy”

** More than 3.3 mln shares traded as of 0612 GMT, vs 30-day moving avg of around 3.2 mln

** Stock up about 11.5 pct this year as of last close

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