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Buy Mastek, target of Rs 412: PINC Research
PINC Research has maintained its buy rating on Mastek with a revised 12-month price target of Rs 412. At the CMP of Rs 323, the stock is trading at a P/E of 7.1x and EV/EBIDTA of 3.6x.
PINC Research has maintained its buy rating on Mastek with a revised 12-month price target of Rs 412, in its April 11, 2008 research report. "At the CMP of Rs 323, Mastek is trading at a P/E of 7.1x and EV/EBIDTA of 3.6x. Mastek's greater focus on fixed bid projects and increasing Elixir sales would in the long run, give it the capabilities to efficiently leverage its cost base leading to improving margins and profitability, which we believe can lead to Mastek commanding valuations at the higher end of mid cap peers. Hence we maintain our 'BUY' recommendation with a revised 12-month price target of Rs 412," says PINC's research report.
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