PGP GLASS CEYLON PLC - Initiation Report - BUY

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Initiation Reports
31/03/2025
682
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We initiate coverage on PGP Glass Ceylon PLC, Sri Lanka’s sole glass bottle manufacturer, with a BUY recommendation, setting a 12-month target price of LKR 46.40, with an upside of 35%. This target price is derived using a weighted average of our discounted cash flows, relative valuation (P/E) and dividend discount model offering a balanced perspective on the company’s growth potential in the glass manufacturing sector.
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