Thursday, 17 September 2009

Hold Tata Tea, target of Rs 939: Sharekhan

Sharekhan has maintained its hold rating on Tata Tea with a price target of Rs 939 in its report dated September 15, 2009.

"Considering the aggressive growth plans, we believe that Tata Tea is a good investment proposition for the medium to long term. However, with the rising raw material prices we expect a moderate performance in the near term and believe that trading at 12.8x its FY2011E earnings the stock has limited upside in the near term. We maintain our 'Hold' recommendation on the stock with a price target of Rs 939," says Sharekhan's report.

Source: Moneycontrol

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