Tuesday, 7 October 2008

Reduce Jubilant Org, target of Rs 267: IIFL

IIFL has downgraded its rating on Jubilant Organosys from buy to reduce with a reduced target price of Rs 267 in its October 6, 2008 research report. "We are reducing our FY09 EPS estimate from Rs 11.8 to Rs 3.6, mostly to account for forex losses of 2QFY09. We are also cutting our core earnings estimates for FY09-11 by 2.5-11% and reducing our target price to Rs 267, 15x FY10ii core earnings,and downgrade the stock from BUY to REDUCE," says IIFL's research report.

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Source: Moneycontrol

Posted by Harsh at 07:01

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