Buy Procter and Gamble: Parag Parikh

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Buy Procter and Gamble: Parag Parikh

Parag Parikh Financial Advisory Services has recommended a buy rating on Procter and Gamble Hygiene and Health Care (PGHH). The research firm forecasts topline CAGR of 16% for FY07-FY10E and 27% CAGR for net earnings.

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Parag Parikh Financial Advisory Services has recommended a buy rating on Procter and Gamble Hygiene and Health Care in it January 7, 2009 research report. "Underpenetrated markets, low per capita consumption and well established brands bestow opportunities for high growth rates. We forecast topline CAGR of 16% for FY07-FY10E and 27% CAGR for net earnings. We value PGHH on DCF and relative valuation basis. Our DCF valuation, using a WACC of 13% and terminal growth of 3%, is Rs 905. PGHH is currently trading at a 12-month forward PE of 15x, one of the lowest forward PE. We initiate a BUY with a long term visibility," says Parag Parikh Financial Advisory Services' research report.

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To read the full report click on the attachment......