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Buy Country Club, target of Rs 797: P Lilladher
Prabhudas Lilladher has maintained its buy rating on Country Club (India) (CCIL) with a target of Rs 797. CCIL’s aggressive expansion plans in terms of acquiring properties and offering comprehensive range of products to its clients has helped the company to grow at CAGR of 210.8% over last three years to Rs 3.18bn in FY08.
Prabhudas Lilladher has maintained its buy rating on Country Club (India) (CCIL) with a target of Rs 797 in its September 20, 2008 research report. "CCIL's aggressive expansion plans in terms of acquiring properties and offering comprehensive range of products to its clients has helped the company to grow at CAGR of 210.8% over last three years to Rs 3.18 billion in FY08. At the CMP of Rs 270, the stock trades at 4.5x FY09E and 2.7x FY10E earnings."
"We believe that CCIL should trade at a premium to the current valuations, given its strong revenue and profit growth. We maintain BUY rating on the stock with a target price of Rs 797 (8x FY10E)," says Prabhudas Lilladher's research report.
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