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Buy Ashtavinayak, target of Rs 557: Networth
Networth Stock Broking has recommended a buy rating on Shree Ashtavinayak Cine Vision with a 12 months price target of Rs 557. At current market price, stock is trading at 14.1x and 9.7x of its estimated EPS of Rs 27.3 for FY09E and Rs 39.8 for FY010E respectively.
Networth Stock Broking has recommended a buy rating on Shree Ashtavinayak Cine Vision with a 12 months price target of Rs 557 in its April 16, 2008 research report. "We expect company's net sales to grow at a CAGR of 108% over FY08-FY10E to reach Rs 4172.5 million in FY10 on account of increase in film productions and geographical expansion in distribution segment. Net profit is expected to grow at a CAGR of 87.4% over FY08E-FY10E to Rs 520 million from Rs 155.3 million in FY08E."
"At current market price, stock is trading at 14.1x and 9.7x of its estimated EPS of Rs 27.3 for FY09E and Rs 39.8 for FY010E respectively. We Initiate coverage with a "BUY" recommendation and 12 months price target of Rs 557, an upside of 44.3%, valuing the company at 14x of its FY10E EPS of Rs 39.8," says Networth's research report.
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