Stock Views on Infotech, Indraprastha Gas, Patel Engg

PINC Research on Infotech - Target of Rs 58
PINC Research is bullish on 3i Infotech and has maintained buy rating on stock with a target of Rs 58, in its November 11, 2008 report, "At the CMP of Rs 43, 3i is trading at a P/E of 3.0x and EV/EBIDT of 3.8x its FY09 estimates. We believe that 3i’s exposure to the BFSI vertical, a leveraged balance sheet and its ability to fund new growth would continue to be concern areas in the coming quarters but we believe the recent de-rating of valuations factors in these concerns to a large extent. Hence, we believe that at current levels the stock offers value vis-a-vis growth rates and hence we maintain our ‘BUY’ recommendation with a 12 month price target of Rs 58," says PINC's research report.

KRChoksey on Patel Engg - Target Rs 347

KRChoksey Research has maintained its buy rating on Patel Engineering, with price target of Rs 347. "At the CMP of Rs 169 the stock is trading at a forward P/E of 7.3x, based on its FY09E EPS and 6.0x its FY10E EPS. We anticipate slowdown in order inflow and an increase in interest expense, which will impact the net profit margins of the company. We therefore downgrade our target price from Rs 501 to Rs 347, however, maintaining a BUY rating," says KRChoksey's research report.

Parag Parikh on Indraprastha Gas - Target of Rs 154.5

Parag Parikh Financial Advisory Services has recommended a buy rating on Indraprastha Gas with a target price of Rs 154.5 in its November 1, 2008 research report. "For the quarter ended 30th September, 2008 Indraprastha Gas Limited (IGL) has posted 24.5% growth in net sales to Rs 2,166.7 million as compared to Rs 1,740.96 million for the quarter ended 30th September 2007. We have valued the company on DCF as well as PE multiple basis and recommend a BUY for the scrip at the current levels with a price target of Rs 154.5 giving an upside of 49.20%. At our target price, the stock will trade at 11.5x FY09 earnings," says Parag Parikh Financial Advisory Services' research report.