Buy Sterlite Tech, target of Rs 245: Emkay
Emkay Research has maintained a buy rating on Sterlite Technologies with a target price of Rs 245 in its April 1, 2008 research report. “We expect the revenues to grow by CAGR 24% to Rs 25 billion and PAT to grow by CAGR 30% to Rs 1580 million over FY08-10E resulting in an EPS of Rs 18.2 and Rs 24.5 for FY09E and FY10E respectively. We maintain our bullish view on the stock and recommend BUY with a price target of Rs 245 based on 10x FY10E earning of Rs 24.5 per share offering an upside of 50%” says Emkay’s research report
