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Last Updated : Sep 10, 2015 12:44 PM IST | Source: Moneycontrol.com

Buy Talbros Automotive; target of Rs 144: Karvy

Karvy Stock Broking is bullish on Talbros Automotive Components and has recommended buy rating on the stock with a target price of Rs 144 , in its research report dated September 09, 2015.

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Karvy Stock Broking's report on Talbros Automotive Components

Talbros is a gasket manufacturer which predominantly caters to the Two-wheeler and the Commercial Vehicle (CV) market. Also, they are the main suppliersof suspension products to Maruti Suzuki India Ltd on the passenger car segment. Going forward, the consolidated revenue is expected to grow at a CAGR of 10% during FY15-17E driven by product launches, strengthening exports and synergic joint venture collaborations that nurture technological development.

Valuation and Outlook:

"AT CMP of Rs. 102, Talbros Auto Component Ltd is currently trading at 4.6x FY17E EPS. We value the company at P/E 6.5x for FY17E EPS for a target price of Rs.144 based on the future company prospects. We, therefore initiate coverage on Talbros Auto component Ltd (TACL) with a “BUY” rating for a target price of Rs 144 representing an upside potential of 41% in a 9-12 month period", says Karvy Stock Broking research report.

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First Published on Sep 10, 2015 12:44 pm