Prabhudas Lilladher has come out with research report on XL Telecom and Energy and has maintained buy rating on the stock with target price of Rs 400, in report dated on November 15, 2007.
"At present, XL Telecom & Energy has an order book for supply of 12MW of solar panels to Spain worth USD 48 million. Also, globally the stock prices of most solar companies have appreciated anywhere between 20-30% in the past one month. The average P/E of these solar companies now stand at 59.4x CY07E & 36.7x CY08E. Currently, XL Telecom is trading at 6x FY09E earnings of Rs50.8, which is at a steep discount to its global peers. With better earnings visibility ahead, we now rate XL Telecom 8x PER, giving it a price target of Rs400 (which is 41.3% upside from our earlier target of Rs283)", as per Prabhudas Lilladher report.
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