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Buy Plethico Pharma; target of Rs 454: Firstcall
Firstcall India Equity Advisors is bullish on Plethico Pharmaceuticals and has recommended buy rating on the stock with a target of Rs 454 in its June 30, 2010 research report.
Firstcall India Equity Advisors is bullish on Plethico Pharmaceuticals and has recommended buy rating on the stock with a target of Rs 454 in its June 30, 2010 research report.
"At the current market price of Rs 395, Plethico Pharmaceuticals is trading at 12.17 x CY10E and 10.92 x CY11E respectively. Price to book value of the stock is expected to be at 1.74 x and 1.53 x respectively for CY10E and CY11E. On the basis of EV/EBITDA, the stock trades at 10.15 x for CY10E and 9.22 x for CY11E. We estimates earnings for CY10E is Rs 32.62 and CY11E is Rs 36.16 for each share. The Company is focused on ensuring a higher capacity utilization of the MHRA compliant Kalaria plant for Allopathic and recently raised fund upto USD 100 million, so we recommend buy in this particular scrip with a target price of Rs 454 for medium to long term investment," says Firstcall india Equity Advisors research report.
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