Saturday 4 October 2008

Accumulate ABG Shipyard; tgt Rs 367: P Lilladher

Prabhudas Lilladher has recommended a buy rating on ABG Shipyard, with price target of Rs 367, in its report dated September 25, 2008.

"The company is expected to report an EPS growth of 49.7% CAGR over FY09 and FY10. On the basis of P/E, the stock trades at 7.8x FY09 and 4.9x FY10 with subsidy and 10.4x FY09 and 6.2x FY10 without subsidy. On account of the reduction in estimates we are reducing our target price to Rs 367. This is based on 9x FY09 and 5.6x FY10. We rate the stock Accumulate," says Prabhudas Lilladher's research report

Source: Moneycontrol

Posted by Harsh at 07:49

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