Buy GSK Consumer, target of Rs 781: KRChoksey

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KRChoksey Research has recommended a buy rating on GlaxoSmithKline Consumer Healthcare with a 12-month target price of Rs 781 in its September 19, 2008 research report. "At the CMP of Rs 619, the stock is trading at 14.4x TTM EPS of Rs 43.0. Going forward, we believe the company is expected to see strong performance driven by leveraging its flagship brand Horlicks and aggressive plans of new launches. We initiate coverage on the stock with a Buy rating and a 12-month target price of Rs 781, implying an upside potential of 26% which is arrived by discounting CY09E EPS of Rs 52 by 15x," says KRChoksey's research report.

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