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Analysts’picks: Reliance Infra
This article was posted on May 9, 2009 and is filed under Stock Views
CMP: Rs 769.15
Target price: Rs 876 Morgan Stanley has retained its ‘overweight’ rating on Reliance Infrastructure and raised its target price for the stock to Rs 876. We believe the key concerns amongst investors over the stock have primarily been around execution and visibility, or recoverability, of cash and its equivalents.
On execution, the financial closures of Sasan UMPP (4,000 MW) and Delhi Metro, construction work on Rosa I and Sasan UMPP, increasing size of the EPC business and completion of two road projects are steps in the right direction, in our view,” a Morgan Stanley note to clients said.
source: Business-Standard
Tags: nse bse analysts, reliance infra, stock market analysts
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