Jefferies analyst Akshay Jagdale maintained a Buy rating on Amira Nature (ANFI) today and set a price target of $6. The company’s shares opened today at $0.74, close to its 52-week low of $0.62.
Jagdale observed:
“We recently met with mgmt & have reviewed FY18 results as presented in the 20F. FY18 results were well below expectations driven in part by two unusual, one-time issues. The main issue is that of liquidity exacerbated by tight credit conditions in India. Mgmt is working on several options simultaneously to remedy its liquidity situation but until a solution is reached the stock will likely continue to trade below intrinsic value.”
According to TipRanks.com, Jagdale is a 4-star analyst with an average return of 3.1% and a 50.8% success rate. Jagdale covers the Consumer Goods sector, focusing on stocks such as Lamb Weston Holdings, McCormick & Company, and Pilgrim’s Pride.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Amira Nature with a $6 average price target.
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Amira Nature’s market cap is currently $28.13M and has a P/E ratio of 0.86. The company has a Price to Book ratio of 0.13.
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Amira Nature Foods Ltd. engages in the manufacture, marketing, and distribution of packaged Indian specialty rice, primarily basmati rice, and other food products. It also offers edible oils and organics, wheat, barley, legumes and other produce. The company was founded in 1915 and is headquartered in Dubai, the United Arab Emirates.
