Buy Lloyd Electric, target of Rs 76: Angel Broking

Angel Broking has come out with a research report on Lloyd Electric's Q2FY10 earnings. The research firm has upgraded recommendation on the stock from neutral to buy, with a target price of Rs 76.
  • Language
  • App
  • Subscriptions
  • Specials
  • Sign-In
  • Register
GeStepAhead master your money SME Special
moneycontrol.com

Home » News » Recommendations

Nov 07, 2009, 02.11 PM | Source: Moneycontrol.com

Buy Lloyd Electric, target of Rs 76: Angel Broking

Angel Broking has come out with a research report on Lloyd Electric's Q2FY10 earnings. The research firm has upgraded recommendation on the stock from neutral to buy, with a target price of Rs 76.

Like this story, share it with millions of investors on M3

Buy Lloyd Electric, target of Rs 76: Angel Broking

Angel Broking has come out with a research report on Lloyd Electric's Q2FY10 earnings. The research firm has upgraded recommendation on the stock from neutral to buy, with a target price of Rs 76.

Post Your Comments

Share Cancel

(more)

, Angel Broking |

Angel Broking has come out with a research report on Lloyd Electric 's Q2FY10 earnings. The research firm has upgraded recommendation on the stock from neutral to buy, with a target price of Rs 76, in its report dated November 6, 2009.

"Lloyd is the largest manufacturer of AC coils in India and also manufactures completely built units of ACs on a contract basis. Most of the AC manufacturers in India feature in the client list of Lloyd. The penetration of ACs is very low in India, at approximately 1.5 - 2%, compared to approximately 20% in developed countries, which will continue to drive the Sales of ACs in India. Further, during FY2009, the company has acquired a plant in Czechoslovakia, from Luvata, which would give Lloyd a foothold in Europe and add to its top-line and bottom-line. At the CMP, the stock trades at 3.4x its FY2011E EPS of Rs 15.1. The company enjoys excellent positioning in the AC market in India and, we believe, that the stock has a limited downside from its current level. In light of the changed business dynamics and consequently revised estimates, we upgrade our recommendation from neutral to buy, with a target price of Rs76", says Angel Broking.

Disclaimer: The views and investment tips expressed by investment experts on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

.........

To read the full report click here

Ads by Google

Buy, Hold, Sell ? Hear it first on M3
Buy Lloyd Electric, target of Rs 76: Angel Broking

See all

Get started using your favorite social network

or

Login using moneycontrol ID

Username
Password

Need help logging in? Reset password.

Don´t have an account? Sign Up

Get started using your favorite social network

or

Simply sign up using this short form

* mandatory

UserName*

Username should be atleast 4 character

Password*

Password should be 8 or more characters,
atleast 1 number, 1 symbol & 1 upper case letter

Alert

Your Password should contain
  • 8 or more characters
  • At least 1 number
  • At least 1 symbol
  • At least 1 upper case letter
Confirm Password*
Email
Already have an account? Login