Monday, 17 November 2008

Buy IVRCL Infra, target of Rs 198: KRChoksey

KRChoksey Research has recommended a buy rating on IVRCL Infrastructure, with price target of Rs 198, in its report. "At the CMP of Rs 140, IVRCL is trading at 7.8x TTM EPS of Rs 17.8 and 8.8x FY09E EPS of Rs 15.6. We anticipate slowdown in order inflow and an increase in interest expense, which will impact the revenue and net profit margins of the company. We have reduced our EPS estimates for FY09 and FY10 by 10% & 9.8% respectively. We therefore downgrade our target price from Rs 381 to Rs 198, maintaining a BUY rating, with an upside potential of 41.4%," says KRChoksey's research report.

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Source: Moneycontrol

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