Motilal Oswal has upgraded its rating on Patni Computer Systems to buy with a target price of Rs 493 in its September 29, 2009 research report. At 15:19 pm, the share was quoting at Rs 460.00, up Rs 13.00, or 2.91%.
"We have upgraded our earnings estimates for CY10 by 25%, building in [1] higher CY10 US$ revenue growth at 12.7% v/s 9.4% earlier, [2] greater resilience in margins and [3] higher other income on lower capex expectations. We upgrade the stock to 'Buy' with a target price of Rs 493," says Motilal Oswal's research report.
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To read the full report click on the attachment......
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