Friday 7 November 2008

Buy Godrej Consumer, target of Rs 125: Angel

Angel Broking has maintained its buy rating on Godrej Consumer Products with a revised target price of Rs 125 in its October 31, 2008 research report. "For 2QFY2009, Godrej Consumer Products (GCPL) posted a strong Consolidated Topline growth of 26.4% yoy to Rs 347 crore (Rs 274 crore)."

"We have revised our Earnings estimates downwards by 14.5% and 9.3% for FY2009E and FY2010E to reflect higher than anticipated Margin pressure and higher tax rate (expected to go up due to higher contribution from International business). Nonetheless, we continue to remain bullish on GCPL’s future performance and are extremely enthused by the robust Topline growth. At Rs 100, the stock is trading at 12x FY2010E Earnings of Rs 8.3 making it one of the cheapest stocks in the Consumer space. We maintain a Buy on the stock, with a revised Target Price of Rs 125 (Rs 148)," says Angel Broking's research report.

Disclaimer: The views and investment tips expressed by investment experts on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

Source: Moneycontrol

Posted by Harsh at 07:36

No comments:

Post a Comment

Subscribe to: Post Comments (Atom)
DISCLAIMER: The author is not a registered stockbroker nor a registered advisor and does not give investment advice. His comments are an expression of opinion only and should not be construed in any manner whatsoever as recommendations to buy or sell a stock, option, future, bond, commodity, index or any other financial instrument at any time. While he believes his statements to be true, they always depend on the reliability of his own credible sources. The author recommends that you consult with a qualified investment advisor, one licensed by appropriate regulatory agencies in your legal jurisdiction, before making any investment decisions, and that you confirm the facts on your own before making important investment commitments.