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

Posted by Harsh at 07:18

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.