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Buy HEG, target of Rs 444: Networth
Networth Stock Broking has recommended a buy rating on HEG with a traget price of Rs 444. At the current market price of Rs 302, the stock is trading at 9.2x and 7.0x its FY09 (E) and FY10 (E) FDEPS of Rs 32.7 and Rs 43.3 respectively.
Networth Stock Broking has recommended a buy rating on HEG with a traget price of Rs 444 in its April 21, 2008 research report. "We have valued the core business of HEG, at Rs 346 per share at 8x to its FY10EPS of Rs 43.3. We have arrived at the target price of Rs 444 out of which balance Rs 98 will be come from its investments in BEL."
"At the current market price of Rs 302, the stock is trading at 9.2x and 7.0x its FY09 (E) and FY10 (E) FDEPS of Rs 32.7 and Rs 43.3 respectively. On EV/EBITDA basis, the stock is available at 6.1x FY09 (E) and 5.3x FY010 (E) earnings. As per the SOTP valuation method, we recommend a 'BUY' on this stock with 12 month price target of Rs 444, upside of 47%," says Networth's research report.
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