LKP Shares neutral on Bosch

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LKP Shares neutral on Bosch

LKP Shares has maintained its neutral rating on Bosch. Given the lackluster performance in the auto market during H12008, the research firm expects rather muted 13% earnings CAGR over CY08-09E.

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LKP Shares has maintained its neutral rating on Bosch in its August 26, 2008 research report. "Given the lackluster performance in the auto market during H12008 we expect rather muted 13% earnings CAGR over CY08-09E. Although we are optimistic on the demand outlook of CRDi business, given the challenging profitability scenario and valuation of 22xCY08E and 20.8xCY09E. We maintain a NEUTRAL view on Bosch despite the fact that it holds cash and cash equivalents of Rs 580 per share and is looking to consolidate its holding beyond 70% through a share buyback," says LKP's research report.

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