Thursday, 20 November 2008

Hold Mastek, target of Rs 195: PINC

PINC Research has downgraded its rating on Mastek to hold with a target of Rs 195 in its November 19, 2008 research report. "Mastek had guided for a 32-34% growth in INR revenues for FY09, which translated into a USD growth rate of 14-16%. Our growth outlook for Mastek has been revised primarily on volatile exchange rates. We believe the bigger threat to earnings is the weak macro environment, which could impart pressure on Mastek’s application development led model leading to further uncertainty over earnings growth. Hence, we expect these factors to weigh on valuations and thus downgrade our recommendation to ‘HOLD’. with a price target of Rs 195," says PINC'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 11:01

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.