Brokerages positive on Cox & Kings

Cox & Kings is one of the largest companies in travel and tourism space with an expansion plan in place. The company is taking right steps by divesting its majority stakes in loss making business and is now focusing on its core business.

With several brokerages recommending Cox & Kings for long term already, K R Choksey has come up with a research report recommending the stock with a target of Rs 328 per share. Axis Capital has a buy recommendation with a target of Rs 287. India Infoline with a target of 335 and Elara Capital has a buy recommendation with a target of Rs 309 for the stock. 
Cox & Kings is expected to grow organically in coming years and the company has started the process of Balance Sheet cleaning by focusing on debt reduction through internal accruals and profits. The company will be exiting its loss making business and that is the big trigger for improvements in the fundamentals of the company.

The stock is trading at Rs 186 per share at 2.30 pm on Thursday. Sensex is trading in green at 28532, up by almost 80 points. Cox & Kings has underperformed broader markets as the stock is down by 21 per cent over a 1 year period.