Prabhudas Lilladher has maintained outperformer rating on Geometric Software Solutions with a target price of Rs 99, in the report dated October 22, 2007. "Geometric's Q2FY08 results were marginally above expectations. Delay in turning around Modern Engineering (USD 0.5mn loss) and a slowdown in its product business would lead to company not achieving its annual guidance. Software services were the major driver of growth in Q2FY08 for Geometric. Software services business grew by 16.1% sequentially whereas engineering business witnessed de-grew of 1%. Product business showed a modest sequential growth of 5.4%. We expect Geometric to report revenue growth of 34.3% and profit growth of 14% in FY08. We maintain our outperformer rating on the stock with a target price of Rs 99 (10x FY09E earnings)." says Prabhudas Lilladher 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 decision.
