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Buy MIC Electronics; tgt Rs 200: Anagram
At CMP of Rs 125 stock is trading at 12 times FY09 expected earnings of Rs 10 per share. We are Recommending investors to buy the stock with a target of Rs 200 ( 60% upside).
Anagram Research has recommended buy rating on MIC Electronics , with price target of Rs 200, in its report dated August 9, 2008.
"A global competitive and only Indian player in the design, development & manufacturing of LED Video Displays. Continue to enjoy first mover advantage in LED video display market. Developed a Global Digital Billboard exchange solution - opens up opportunity for many fold jump in revenues for Outdoor display boards. Executing trial order for US media agency - success can change the fortune of the company. Entering LED lighting business with marketing alliances with global lighting majors like GE. Successfully entered Railway emergency lighting and passenger information display market - Orders worth more than Rs 250 crore, in hand from railways. At CMP of Rs 125 stock is trading at 12 times FY09 expected earnings of Rs 10 per share. We are Recommending investors to buy the stock with a target of Rs 200 ( 60% upside)".
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