Buy AP Paper Mills; target of Rs 156: Firstcall

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Buy AP Paper Mills; target of Rs 156: Firstcall

Firstcall India Equity Advisors is bullish on Andhra Pradesh Paper Mills and has recommended buy rating on the stock with a target of Rs 156 in its July 20, 2010 research report.

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Firstcall India Equity Advisors is bullish on Andhra Pradesh Paper Mills and has recommended buy rating on the stock with a target of Rs 156 in its July 20, 2010 research report.

"At the current market price of Rs 129.65, Andhra Pradesh Paper Mills trades at a P/E of 6.76x and 5.93x for FY11E and FY12E respectively. On the basis of EV/EBDITA, the stock trades at 2.78x and 2.79x for FY11E and FY12E respectively. EPS of the company is expected to be at Rs 19.18 and Rs 21.85 for the earnings of FY11E and FY12E respectively. Price to Book Value of the stock is expected to be at 0.75 and 0.67 respectively for FY11E and FY12E. We recommend buy in this particular scrip with a target price of Rs 156 for medium to long term gains," says Firstcall India Equity Advisors research report.

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To read the full report click on the attachment