Buy NIIT, target of Rs 132: Emkay

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Buy NIIT, target of Rs 132: Emkay

Emkay Global Financial Services has recommended a buy rating on NIIT with a target price of Rs 132. Emkay expects NIIT to record revenue, EBITDA and net profits CAGR of 18.3%, 32.4% and 30.6% over FY08-10E.

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Emkay Global Financial Services has recommended a buy rating on NIIT with a target price of Rs 132 in its July 1, 2008 research report. "We expect NIIT to record revenue, EBITDA and net profits CAGR of 18.3%, 32.4% and 30.6% over FY08-10E. Operating margin expansion by 250 bps over FY08-10E to 12.6% should drive improvement in return ratios as well. We rate NIIT a 'Buy' with a price target of Rs 132 (+28%)," says Emkay's research report.

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