Religare has recommended a buy rating on Maruti Suzuki India with a target price of Rs 1046 in its June 16, 2008 research report. "Stock attractive at a P/E of 9x and EV/EBITDA of 5.4x on FY10E. Our target price of Rs 1,046 is based on 13x FY10E earnings considering growth prospects in export markets and dominant market share in India. Historically, the stock has traded between 12-17x," says Religare's research report.
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