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Accumulate Motilal Oswal, target of Rs 125: P Lilladher
Prabhudas Lilladher has upgraded its rating on Motilal Oswal Financial Services from reduce to accumulate with a target price of Rs 125. Motilal Oswal Financial Services (MOFSL) declared Q4FY09 results largely in-line with expectations
Prabhudas Lilladher has upgraded its rating on Motilal Oswal Financial Services from reduce to accumulate with a target price of Rs 125 in its May 13, 2009 research report.
"Motilal Oswal Financial Services (MOFSL) declared Q4FY09 results largely in-line with our expectations. Revenues declined by 52.2% YoY and 4.8% QoQ. We believe that the worst is over for MOFSL in terms of operating performance. We expect better performance from all its key business segments, namely broking, IB, asset management and financing. MOFSL is trading at 14.6x FY10 earnings. We upgrade the rating to 'Accumulate' from 'Reduce', with a target price of Rs 125," says Prabhudas Lilladher's research report.
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