Thursday, 13 November 2008

Hold Info Edge, target of Rs 450: ICICIdirect.com

ICICIdirect.com has maintained its hold rating on Info Edge with a price target of Rs 450 in its November 4, 2008 report. "Info Edge posted a topline of Rs 65.42 crore, registering the lowest YoY growth of 24.36% in the past six quarters. PAT grew 3.50% YoY at Rs 15.67 crore. On a QoQ basis, PAT margins improved by 235 bps due to lower tax rate and higher other income. Given the macro conditions and slowdown in recruitment, we have lowered the future earning growth rate and altered our DCF assumptions. Using the DCF approach we have arrived at a target price of Rs 450.22. The target price discounts the FY10E EPS of Rs 27.63 by 16.3x. We maintain our rating as Hold," says ICICIdirect.com'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 07:23

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.