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Buy Aban Offshore, target of Rs 2560: India Infoline
India Infoline has maintained its buy rating on Aban Offshore with a traget price of Rs 2560. Historically, Aban has clocked the highest operating margins in the industry at a global scale. Further, the growth rate expected for Aban over the next couple of years is higher than most of its peers.
India Infoline has maintained its buy rating on Aban Offshore with a traget price of Rs 2560 in its September 4, 2008 research report. "Historically, Aban has clocked the highest operating margins in the industry at a global scale. Further, the growth rate expected for Aban over the next couple of years is higher than most of its peers. The stock is trading at a steep discount compared to its competitors. At CMP of Rs 2,105 the stock is trading at a P/E multiple of 5.4x and 4.6x FY09E and FY10E respectively compared to international average of 9.9x and 7.7x on CY08E and CY09E. We maintain our BUY rating on the stock, target of Rs Rs 2560," says India Infoline's research report.
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