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Buy Bhagwati Banquets; target of Rs 120: P Lilladher
Prabhudas Lilladher is bullish on Bhagwati Banquets & Hotels with a 12-month target of Rs 120, as per their report dated on November 29, 2007. Research firm expect the company, led by its ambitious expansion plans, to report 49% CAGR in net sales and 45% CAGR in net profit over the next three years.
Prabhudas Lilladher is bullish on Bhagwati Banquets & Hotels with a 12-month target of Rs 120, as per their report dated on November 29, 2007. "We expect the company, led by its ambitious expansion plans, to report 49% CAGR in net sales and 45% CAGR in net profit over the next three years. We expect EBIDTA margin to improve from 21.8% in FY07 to 37.2% in FY10, due to reduction in material cost and the Surat Hotel going on stream in FY10. At the CMP of Rs 79, the stock trades at 18.5x FY09E and 7.9x FY10E earnings. We initiate coverage on the company and recommend Buy rating with a target price of Rs 120 in the next 12 months, which is an upside of 52% over the CMP." according to the Prabhudas Lilladher research report.
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