Saturday 4 October 2008

Buy Bharati Shipyard; tgt Rs 351: P Lilladher

Prabhudas Lilladher has recommended a buy rating on Bharati Shipyard, with price target of Rs 351, in its report dated September 25, 2008.

"On account of the company's capex progressing at a slower than expected pace, we are reducing revenue estimates by 17% and 19% for FY09 and FY10, respectively and PAT estimates by 12% and 14%, respectively. However, at CMP, the company's valuations look attractive at 5.2x FY09 and 3.7x FY10 with subsidy and 8.5x FY09 and 5.7x FY10 without subsidy. We rate the stock BUY with a price target of Rs 351," says Prabhudas Lilladher's report.

Source: Moneycontrol

Posted by Harsh at 07:51

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