Buy Opto Circuits, target of Rs 423: Emkay

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Buy Opto Circuits, target of Rs 423: Emkay

Emkay Global Financial Services has recommended a buy rating on Opto Circuits India with a target price of Rs 423. Emkay believes OCIL is on a high growth trajectory and will continue to deliver a strong performance as its products continue to gain market share over the next two-three years.

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Emkay Global Financial Services has recommended a buy rating on Opto Circuits India with a target price of Rs 423 in its July 1, 2008 research report. "We believe OCIL is on a high growth trajectory and will continue to deliver a strong performance as its products continue to gain market share over the next two-three years. We expect OCIL to report a strong revenue growth of 57% CAGR during FY08-FY10E."

"We expect the company's net profits to grow at a 45% CAGR during FY08-FY10E. Given the strong growth across segments, we initiate coverage on the stock with a 'BUY' rating and a DCF based price target of Rs 423," says Emkay's research report.

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