Jefferies maintains 'buy' on India's Hindustan Aeronautics on Tejas Mk1A delivery outlook
BUZZ-Jefferies maintains 'buy' on India's Hindustan Aeronautics on Tejas Mk1A delivery outlook ** Jefferies maintains "Buy" on Hindustan Aeronautics HIAE.NS with TP of 6,800 rupees
** Says deliveries of aircraft Tejas Mk1A are a key trigger for the stock; programme accounts for 43% of the co's order book
** Notes HAL's 2.55 trillion rupees ($26.57 billion) order book and 1.8 trillion rupees order pipeline provide strong revenue growth through FY30
** Raises EPS estimates for FY27 and FY28 to 5% and 4%; revenue estimates to 1% and 3%, respectively
** Sees execution delays in manufacturing and defence-indgenisation spending as key risks
** Shares of HIAE rise 2.8% to 4,680.70 rupees** Stock rated "Buy" on avg by 27 analysts, with median PT of 5,760 rupees - data compiled by LSEG
** Stock up 6.41% YTD
($1 = 95.9550 Indian rupees)
(Reporting by Anushka Rajvedi in Bengaluru)
((mailto: anushka.rajvedi@thomsonreuters.com))
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