Monday, 24 November 2008

Buy Aries Agro, target of Rs 75: LKP Shares

LKP Shares has recommended a buy rating on Aries Agro with one-year target of Rs 75 in its research report. "Aries posted a 23% drop in net profit during H1-FY'09. We recommend a BUY on Aries Agro Ltd based on an expected 65% CAGR growth in net profits over the next two years, which would be driven by a 42% growth in revenues during the same period. Given the positioning of the company in the India centric rural domain of micronutrients with a presence across all states we remain bullish on Aries trading at 2xFY'10E and 1.3xFY'11E earnings. BUY with a one-year price target of Rs 75," says LKP Shares' research report.

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Source: Moneycontrol

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