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Buy Time Techno, target of Rs 50: PINC Research
PINC Research has maintained its buy rating on Time Technoplast (TTL) with a target of Rs 50. Even though feedstock prices continue to ease, the research firm believes the bigger threat to earnings is from lower offtake from the auto sector.
PINC Research has maintained its buy rating on Time Technoplast with a target of Rs 50 in its November 21, 2008 research report. "We have moderated our outlook primarily due to the deteriorating economic conditions. Even though feedstock prices continue to ease, we believe the bigger threat to earnings is from lower offtake from the auto sector. We remain confident of the company's ability to sustain margins in the 19-20% band and maintain our 'BUY' recommendation, but have revised downwards our price target to Rs 50 to reflect the lower earnings," says PINC's research report.
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