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Buy Aegis Logistics, target of Rs 335: Angel
Angel Broking has recommended a buy rating on Aegis Logistics with a target price of Rs 335. Aegis has witnessed an improvement in its Margins in the recent quarters primarily owing to its diversified product mix.
Angel Broking has recommended a buy rating on Aegis Logistics with a target price of Rs 335 in its May 23, 2008 research report. "Aegis has witnessed an improvement in its Margins in the recent quarters primarily owing to its diversified product mix, and this is expected to continue in the future also on account of its balanced expansion programme involving different business segments. We believe the foray into LPG retailing and expansion plans in the Liquid Logistics segment will improve overall Margins from the existing 14.3% to 16.7% levels in FY2010."
"At Rs 243, the stock is trading at attractive valuations of 9.2x FY2009E EPS of Rs 26.3 and 6.5x FY2010E EPS of Rs 37.2. We Initiate Coverage on the stock, with a Buy recommendation and target price of Rs 335 translating into an upside of 38% from current levels," says Angel's research report.
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