Buy Sunil Hitech Eng, target of Rs 280: Emkay
Emkay Research has recommended a buy rating on Sunil Hitech Engineers with a target price of Rs 280 in its April 1, 2008 research report. “We expect the topline, bottomline and diluted EPS of the company to grow at a CAGR of 55.6%, 62% and 63.3% respectively during FY07A-FY10E. The scrip currently discounts FY09E and FY10E fully diluted EPS of Rs 15 and Rs 20.5 by 14x and 10.3x respectively and is available at a discount to its peers. We recommend a BUY on the scrip with the target price of Rs 280 based on DCF valuation. At our target price the scrip discounts FY09E & FY10E EPS by 18.6x & 13.7x respectively”, says Emkay’s research report
