Buy UB Engineering; target of Rs 230: Nirmal Bang

Nirmal Bang is bullish on UB Engineering and ahs recommended buy rating on the stock with a target of Rs 230, in its September 05, 2009 report. "We expect UB Engineering's (UBE’s) Revenue and PAT to grow at 55.7% and 59.3% CAGR respectively during FY 08-10. At the projected EPS of Rs 13.3 & 19.0 for FY09 & FY10 the stock is trading at Price Earning Multiple of 8.3x & 5.8x respectively. We are positive on the growth prospects of the company and recommend to BUY the stock with a price target of Rs 230 to be achieved over a period of 15-18 months implying an upside potential of 100%," says Nirmal Bang research report.

Disclaimer: The views and investment tips expressed by investment experts on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

For further details click on attachment....