Angel Broking has recommended an accumulate rating on Everonn Education (EEL), in its report dated October 22, 2009. The stock closed at Rs 456.65 on October 23, 2009.
Angel Broking has recommended an accumulate rating on Everonn Education (EEL), in its report dated October 22, 2009. The stock closed at Rs 456.65 on October 23, 2009.
Angel Broking's report:-
"We expect EEL to record strong CAGRs of 50% and 52% in its top-line and bottom-line, respectively, over FY2009-11E. The ViTELS Business is expected to remain the key driver of top-line growth, with a robust 52.8% CAGR expected in Revenues in the mentioned period; this will also drive higher Profitability. The company's newer initiatives like Toppers are likely to contribute more significantly to its future growth, with the building of a strong content base. We expect ICT Business to slow down, with a 29.8% CAGR in Revenues estimated over the mentioned period. At the CMP, the stock is trading at 14.1x its FY2011E EPS. We recommend accumulate on the stock, with a target Price of Rs 505, assigning a P/E of 16x FY2011E EPS", says Angel Broking.
Disclaimer: The views and investment tips expressed by investment experts on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
To read the full report click on the attachment.........
