Buy Wockhardt, target of Rs 200: Karvy

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Karvy Stock Broking has recommended a buy rating on Wockhardt with a target of Rs 200 in its October 15, 2008 research report. "Net revenues are expected to grow by 27% to Rs 9.4 billion. Profits for the quarter are expected to be down by 20 % at Rs 870 million. At fully diluted equity at current price the stock is quoting at 7.7x CY08E and 5.4x CY09E. On a multiple of 7x CY09 the stock would be valued at Rs 200. We rate the stock as a BUY," says Karvy Stock Broking's research report.

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