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Buy Time Techno, target of Rs 100: PINC
PINC Research has maintained its buy rating on Time Technoplast with a price target of Rs 100. The research firm maintains its view that TTL’s business model offers huge scalability potential, strong visibility of earnings and stability of margins.
PINC Research has maintained its buy rating on Time Technoplast with a price target of Rs 100 in its November 5, 2008 research report. "Time Technoplast Ltd. (TTL) reported a 26% YoY jump in net sales to Rs 2 billion in Q2FY09 on back of steady performance from the polymers and composites businesses, as well as increased inflows from NED Energy. We maintain our view that TTL's business model offers huge scalability potential, strong visibility of earnings and stability of margins."
"The enormous growth potential of its core packaging business coupled with the ramp up in other verticals viz. auto, and infrastructure (i.e. batteries, HDPE pipes & Prefab structures) inspire confidence in the outlook for the stock. Hence, we maintain our 'BUY' recommendation but marginally reduce our price target to Rs 100 on an 18-month investment perspective on back of revised earnings estimates," says PINC's research report.
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