Brokerage House Merrill Lynch has given a buy call for Exide Industries. The company came out with disappointing numbers in recent quarter however that was mainly due to higher inventory cost.

Going forward, the company is expected to perform better. In addition, with more advertising spends and marketing boost, the upcoming quarters could be better as sales are expected to pick up in summer season.

Stock Market expert SP Tulsian has suggested a target of Rs 160 for Exide Industries in his recent interview on business news channel CNBC-TV18. JRG Securities CEO Anand Tandon is also positive on Exide Industries. He expects the stock to be a market performer.

Exide has been trading at Rs 126 with P/E ratio of 23. The stock has touched 52-week high and low of Rs 188 and 98 respectively.