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Motilal Oswal keeps neutral rating on ABB
Motilal Oswal Financial Services has come out with a research report on ABB's Q3CY09 earnings. The research firm has maintained neutral rating on the stock.
Motilal Oswal Financial Services has come out with a research report on ABB 's Q3CY09 earnings. The research firm has maintained neutral rating on the stock.
"Post results of ABB we have revised our earnings downward by 11.1% for CY09 to factor in lower revenue growth and EBITDA margin. Now we expect ABB to report earnings of Rs 19.8 in CY09 (down 21.2% YoY) and Rs 28.2 (up 42.5% YoY) in CY10. We arrive at target price of Rs 790 based on PER multiple of 28x CY10. Maintain neutral", says Motilal Oswal Financial Services.
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To read the full report click on the attachment.........
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