Accumulate Prism Cement, target of Rs 28: SKP Securities

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Accumulate Prism Cement, target of Rs 28: SKP Securities

SKP Securities has recommended an accumulate rating on Prism Cement with a target of Rs 28. At the current market price of Rs 17.50, the stock is trading at a P/E of 2.97x and 2.46x of FY09E and FY10E earnings of 5.90 and 7.11 respectively.

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SKP Securities has recommended an accumulate rating on Prism Cement with a target of Rs 28 in its October 22, 2008 research report. "At the current market price of Rs 17.50, the stock is trading at a P/E of 2.97x and 2.46x of FY09E and FY10E earnings of 5.90 and 7.11 respectively. We recommend Accumulate rating on the stock with a target price of Rs 28 (60% upside) in 18 months implying a P/E multiple of 4x of FY10E earnings," says SKP Securities' research report.

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