Buy Sonata Software, target of Rs 44: Parag Parikh

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Buy Sonata Software, target of Rs 44: Parag Parikh

Parag Parikh Financial Advisory Services has maintained its buy rating on Sonata Software with a target of Rs 44. Factoring the robust Q2 results and the changed currency scenario, the research firm's are increasing their earnings estimate for FY09 from Rs 6.25 to Rs 7.25 per share.

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Parag Parikh Financial Advisory Services has maintained its buy rating on Sonata Software with a target of Rs 44 in its October 15, 2008 research report. "Sonata Software has reported extremely good results for the 2nd quarter of FY09. Overall, the results have increased our confidence on the company. Factoring the robust Q2 results and the changed currency scenario, we are increasing our earnings estimate for FY09 from Rs 6.25 to Rs 7.25 per share. We maintain our BUY call on the scrip, with a target of Rs 44 based on 6x FY09E (117% Upside)," says Parag Parikh Financial Advisory Services' research report.

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