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Buy Aban Offshore, target of Rs 492: KRChoksey

Posted on: May 4th, 2009 and is filed under Brokerage Recommendations.

KRChoksey has recommended a buy rating on Aban Offshore with a price target of Rs 492 in April 21, 2009 research report.

“Aban’s sales grew 17% y-o-y to Rs 774.1 crore, adversely affected by the idle status of four of its rigs. For Q4FY09, the company’s EBITDA increased
28.0% y-o-y, to Rs 431.3 crore, in-line with our expectation. We recommend a BUY to the company’s stock, target of Rs 492,” says KRChoksey’s research report.

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