Saturday 11 October 2008

Buy Bharti Airtel, target of Rs 1154: HDFC Sec

HDFC Securities has maintained its buy rating on Bharti Airtel with a target of Rs 1154 in its October 10, 2008 research report. "We expect the sales to grow at a CAGR of 26% and net profit at 26% in the period between FY 08 to FY 10. At the CMP of Rs 733, the stock trades at 9.54 times and 7.72 times its FY 09 and FY 10 EBITDA, which looks cheaply valued. Hence, we reiterate our BUY rating maintaining our target price of Rs 1,154, which translates into an upside of 57% from current levels," says HDFC Securities' research report.

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Source: Moneycontrol

Posted by Harsh at 00:27

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