Buy Everest Kanto Cylinder, target of Rs 385: PINC Research

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PINC Research has recommended a buy rating on Everest Kanto Cylinder with a target of Rs 385 in its September 15, 2008 research report. "At the CMP of Rs 291, the stock trades at a P/E of 19.9x & 12.2x and an EV/EBIDTA of 12.7x & 8.9x FY09E and FY10E earnings respectively. Considering the favorable macro scenario and robust demand for CNG cylinders coupled with the initiatives taken by the company, EKC has the potential to grow by CAGR of 46% in earnings for the next three years. Hence, we recommend a 'BUY' with a price target of Rs 385 on an 18 months investment perspective," says PINC's research report.

 

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