Buy NIIT, target of Rs 132: Emkay Global

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Buy NIIT, target of Rs 132: Emkay Global

Emkay Global Financial Services has maintained its buy rating on NIIT with a target of Rs 132. The research firm highlights that the company remains sound on achieving the earlier envisaged financial targets for FY09 (research firms growth and margin assumptions for the business segments are lower than company’s internal targets).

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Emkay Global Financial Services has maintained its buy rating on NIIT with a target of Rs 132 in its September 22, 2008 research report. "We highlight that the company remains sound on achieving the earlier envisaged financial targets for FY09 (our growth and margin assumptions for the business segments are lower than company's internal targets). We would look to review our ratings and target price post Q2FY09 results; however believe that there is little risk to our FY09 earnings estimates of Rs 5.4. Maintain BUY with a price target of Rs 132," says Emkay Global Financial Services' research report.

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