Buy Great Offshore, target of Rs 454: SKP Securities
SKP Securities has recommended a buy rating on Great Offshore, with a price target of Rs 454, in its report dated June 16, 2009.
“GOL has forayed in to port management and single point mooring operations by acquiring 100% equity stake in two Hydrabad based companies KEI-RSOS Maritime Ltd. (KEI) and Rajamahendri Shipping & Oilfield Services Ltd (RSOS) with purchase consideration of Rs 1.6 billion. At the current market price of Rs 360, the stock is trading at a P/BV of 1.16x and 0.95x of FY10E and FY11E book value of Rs 310 and Rs 378 respectively. We recommend ‘BUY’ rating on the stock with a target price of Rs 454/- (26% upside) in 12 months implying a P/BV multiple of 1.2x of FY11E book value,” says SKP Securities’ report.
source: Moneycontorl
Tags: buy great offshore, buy or sell great offshore, buy rating, GOL, nse buy stocks, skp securities
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