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Buy Bajaj Auto, target of Rs 669: PINC

Posted on: March 21st, 2009 and is filed under Brokerage Recommendations.

PINC Research has recommended a buy rating on Bajaj Auto with a target price of Rs 669 in its March 20, 2009 research report.

“Over the last two years, Bajaj Auto has disappointed the market with declining volumes. However despite lower volumes, we see profitability of the company to improve from the current levels. We upgrade our recommendation on the stock to ‘BUY’ with a target price of Rs 669 discounting FY10E earnings 10x,” says PINC’s research report.

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