Buy Opto Circuits for a target price of Rs 270 says Sushil Finance
BUY OPTO CIRCUITS FOR TARGET OF RS 270 -SUSHIL FINANCE RESEARCH REPORT
Sushil Finance in its research report dated June 1, 2010 has maintained a buy rating on the stock Opto Circuits with a target price of Rs 270.
Sushil Finance in its research reports says”Opto Circuits India, OCL is expected to deliver very strong performance forÂ next 2-3 years. We expect OCLâ€™s consolidated revenues to grow by 25% & 20% in FY11E & FY12E respectively and its APAT to grow by 28.8% & 24.1% in FY11E & FY12E respectively.
At the CMP of Rs 221, the stock is trading at 12.2x and 9.9x of its FY11E and FY12E estimated earnings of Rs 18.1 & Rs 22.4 respectively. We maintain our buy rating on the stock with an increased target price of Rs 270 (12x its FY12E earnings).”