Buy JMC Projects, target of Rs 212: KRChoksey
KRChoksey has recommended a buy rating on JMC Projects, with price target of Rs 212, in its report dated June 8, 2009.
“We believe JMC Projects is a good turnaround story and continues to improve its performance as observed from its FY08 and FY09 performance. We believe company will continue to grow at current levels and we expect the margins to settle down at current levels. At the CMP of Rs 184 the stock is trading at 7.9 x its FY10E EPS of Rs 23.4 and 4.2x its FY10E EV/EBIDTA. We believe the stock is currently under valued as compared to its peers and therefore recommend a “Buy” on the stock with a target price of Rs 212 giving an upside potential of 15% from current levels,” says KRChoksey’s report.
Tags: buy JMC Projects, buy rating, JMC Projects, KRChoksey
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