Jul 23, 2010, 06.28 PM | Source: Moneycontrol.com
Finquest Securities is bullish on Radico Khaitan and has recommended buy rating on the stock with a target of Rs 155 in its July 23, 2010 research report.
, FinQuest Securities |
“At CMP of Rs 127, Radico Khaitan is trading at a PE multiple of 21.4x and 15.1x and EV/EBITDA of 13.3x and 9.9x its FY11E and FY12E respectively. We value RKL at 12x FY12E EV/EBITDA multiple and Initiate Coverage with buy recommendation with target price of Rs 155 (an upside of 22%). Our target price of Rs 155 is based on FY12E EV/EBITDA of 11.8x and PE of 18.4x. (Historically, RKL has traded at one year forward average EV/EBITDA and PE of 13x and 20x resp.),” says Finquest Securities research report.
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