Firstcall Research on ESS DEE Aluminium - Target Rs 462
Firstcall Research is bullish on ESS DEE Aluminium and has recommended buy rating on the stock with a target of Rs 462, in its research report.
"At the current market price of Rs 395.40, ESS DEE Aluminium trades at a P/E of 10.37x and 9.60x for FY10E and FY11E respectively. On the basis of EV/EBDITA, the stock trades at 6.85x and 6.89x for FY10E and FY11E respectively. Price to Book Value of the stock is expected to be at 2.64 and 2.07 respectively for FY10E and FY11E. The Net sales of the company are expected to grow at a CAGR of 28% over 2008 to 2011E. We expect that the company will keep its growth story in the coming quarters also. We recommend 'BUY' in this particular scrip with a target price of Rs 462 for Medium to Long Term Gains," says Firstcall Research report.
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