Buy Heidelberg Cement, target Rs 64: Sushil Finance

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Buy Heidelberg Cement, target Rs 64: Sushil Finance

Sushil Finance has recommended a buy rating on Heidelberg Cement, with price target of Rs 64, in its report dated March 12, 2010.

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Sushil Finance has recommended a buy rating on Heidelberg Cement , with price target of Rs 64, in its report dated March 12, 2010. The stock closed at Rs 48.45 on March 16, 2010.

"Heidelberg Cement has a very strong Balance Sheet with Net Cash of Rs 4.9 billion as on December 2009 (Rs 22 per share, which is 46% of CMP) and we expect it Net Cash to grow to Rs 5.8 billion by CY10E. At the CMP, the stock trades at an attractive valuation of 10.4x its CY10E earnings, EV/EBIDTA of 3.1x CY10E and EV/Ton of $ 36. We expect Heidelberg Cement to trade at valuation of 14x CY10E earnings, EV/EBIDTA of 5x CY10E and EV/Ton of $ 63, giving us the target of Rs 64," says Sushil Finance report.

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To read the full report click on the attachment