Stock views on Patels Airtemp, Lanco Infratech, PVR

KRChoksey on PVR - Target Rs 180

KRChoksey has recommended a buy rating on PVR, with price target of Rs 180, in its report. "Net Sales at Rs 76.6 crore (up 16.7% Y-o-Y, down 2.8% Q-o-Q). PAT at Rs 4.7 crore (down 23.4% Y-o-Y, down 41.0% Q-o-Q). At the CMP of Rs 88, PVR is trading at 9.9x TTM EPS of Rs 8.9 and at 8.1x FY09E EPS of Rs 10.9. We maintain BUY rating with downward revision in target price from Rs 220 to Rs 180 based on SOTP valuations, an upside of 104.5% from current levels," says KRChoksey's report.


Angel Broking on Lanco Infratech - Target Rs 279

Angel Broking has recommended a buy rating on Lanco Infratech, with price target of Rs 279, in its report. "Lanco’s Top-line, on a Standalone basis, grew 174% yoy to Rs 1,047 cr (Rs 382 cr) in 3QFY2009. During 3QFY2009, on a consolidated basis, EBITDA Margins stood at 12.2% (23.1%). Based on the Sum-of-Parts (SOTP) methodology, we have arrived at a Target Price of Rs 279 (Rs 320) valuing the Core EPC business at Rs 90 (6x FY2010E, EPS), Power business at Rs 165 (using FCFE and/or P/BV), Real Estate at Rs 10 (on NAV basis) and BOT at Rs 14 per share (using FCFE). We maintain a Buy on the stock, with a revised Target Price of Rs 279 (Rs 320)," says Angel Broking's report.


Sharekhan on Patels Airtemp - Target Rs 94

Sharekhan has maintained its buy rating on Patels Airtemp (India) with a target of Rs 94 in its research report. "The net sales grew by 29.1% to Rs 13.4 crore. Stable other income, depreciation and lower interest cost led to a 29.4% growth in the net profit to Rs 1.76 crore. We maintain our Buy recommendation on the stock with a revised price target of Rs 94, valuing the company at 6x FY2010E earnings," says Sharekhan's research report.