Hem Securities is bullish on Bartronics India and has recommended buy rating on the stock with a target of Rs 170 in its June 19, 2010 research report.
"Growing market presence, healthy order book and strong management guidance ensures good revenue visibility going forward for Bartronics India. Further, big support from the government under unique identification project and also projects from Indian railways and financial inclusion projects would be key growth drivers for the company. Excellent financial performance and "Aapke Dwar" project are the valuable strength of the company. Further, the stock is trading with a very low PE multiple. In the wake of such growth, Bartronics India seems to be extremely attractive investment opportunity. Presently, the stock is trading at Rs 140.50 which is at 4.49 times to its earnings and 1.17 times to its book value of Rs 120.32. Since the stock offers good opportunity, we initiate a buy signal on the stock with a target price of Rs 170 in medium to long term investment horizon expecting an appreciation of about 21% from the current level of Rs 140.50," says Hem Securities research report.
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