Voltas has target of Rs 150: K Kotak
Published on Tuesday, October 14th, 2008 at 2:01 PMAuthor: admin (5507 Articles)
Kamlesh Kotak, VP – Research of Asian Markets Securities is of the view that Voltas has target of Rs 150.
“Voltas is a strong player in electro mechanics, engineering as well as unitary cooling solutions business having a strong order book of around Rs 5,800 crore, which is 1.8 times revenue. The company has a fairly diversified model in terms of geographies as well. It is present in over 30 countries. Middle East is one of its stronger regions. The company is growing at 25-30% CAGR.”
He further added, “Going forward there will be some slowdown in FY09, the next two-three quarters may not be that great. But from an FY10 perspective, the stock is available at very reasonable valuations. We have an EPS target of Rs 7.5 and Rs 10 for the next two years. So from an FY10 perspective, the stock is going at just 7.5 times earnings. We have a price target of Rs 150 on the stock with a 12-18 month perspective.”
Disclosure: Analyst doesn’t hold the above stock.
Source : MoneyControl
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