India's Blue Dart gains on price hike; Goldman raises TP

Blue Dart Express

29/09/2022 06:39

(.)
    ** Indian logistics company Blue Dart Express Ltd's shares
 BLDT.NS  up as much as 3.6% at 8,889 rupees, its sharpest
intraday gain in over a week
    ** Stock posts its highest levels since Sept. 23; set for a
third consecutive session of gains
    ** Co on late Wednesday announced general price increase
from Jan. 1, 2023, with avg price hike of 9.6%
        **  Goldman Sachs raises co's 12-month TP to 9,470
rupees from 8,580 rupees, reiterates "buy"
  
        ** We see strong growth momentum and profitability for
Blue Dart (India’s only dedicated air freight express company)
to continue, driven by an established delivery infrastructure,
superior service quality, and a strong balance sheet - Goldman
  
        ** The price increase further demonstrates Blue Dart’s
focus on maintaining profitable growth - Goldman 
  
    ** More than 10,000 shares traded, 0.3x their 30-day moving
avg of more than 35,000 shares
    ** Three of 7 brokerages rate BLDT "buy" or higher, 1 "hold"
and 3 "sell" or lower; median PT is 8,380 rupees - Refinitiv
data
    ** Up to Wednesday's close, stock had risen 35.7% YTD
 (Reporting by Yagnoseni Das in Bengaluru)
 ((yagnoseni.das@thomsonreuters.com;Mobile: +91 6001289066))