Sharekhan has maintained its buy rating on Subros with a target price of Rs 50 in its September 30, 2009 research report. On Thursday, the share was quoting at Rs 41.10, down Rs 0.25, or 0.6%.
"In line with the increase in our estimates, our price target stands revised to Rs 50 (based on 10x FY2011 earnings estimate). At the current market price the stock is trading at 8.2x its FY2011E earnings and enterprise value (EV)/earnings before interest, tax, depreciation and amortisation (EBITDA) of 3.6x. We maintain our 'Buy' recommendation on the stock," says Sharekhan's research report
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