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Motilal Oswal neutral on ABB
Posted on: February 22nd, 2009 and is filed under Brokerage Recommendations.
Motilal Oswal has maintained its neutral rating on ABB with a target price of Rs 382 in its February 20, 2009 research report. “ABB India reported in-line performance for 4QCY08, with revenues up 18% YoY to Rs 21.7 billion, EBITDA up 3% YoY to Rs 2.7 billion, and net profit up 6.8% YoY to Rs 1.9 billion. The stock trades at 15.7x CY09E and 16x CY10E earnings. Our target price of Rs 382 (15x CY09E earnings) implies a downside of 4% from current levels. Maintain Neutral,” says Motilal Oswal’s research report.
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