Buy Marico, target of Rs 82: Parag Parikh

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Buy Marico, target of Rs 82: Parag Parikh

Parag Parikh Financial Advisory Services (PPFAS) has rated a buy rating on Marico with a target of Rs 82. PPFAS research expects the stock to reach a level of Rs 82 within 18 months to trade at 20x on projected earnings of FY10E.

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Parag Parikh Financial Advisory Services has recommended a buy rating on Marico Industries  with a target of Rs 82 in its September 11, 2008 research report. "At the current market price of Rs 58.25 , the stock trades as 16x of FY09 earnings and 14x of FY10 earnings. This seems grossly under priced and a value pick. PPFAS research expects the stock to reach a level of Rs 82 within 18 months to trade at 20x on projected earnings of FY10E. Thereby we rate the stock as a BUY giving an upside of 40%, target of Rs 82," says Parag Parikh Financial Advisory Services' research report.

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