We had already put a BUY recommendation of Aban Offshore when the price was Rs 1080 and it reached Rs 1700. Citigroup in its research report has put a similar target of Rs 1700 due to Aban’s bid for Sinvest.
Maruti reported stronger than expected sales in Dec-2006. Citi has revised its 12-month targetto Rs1,107 is based on 15x P/CEPS FY08E. Citi expects the cash earnings CAGR of c19.5% for FY06-08E. Maruti is now well positioned to emerge as Suzuki’s regional manufacturing hub over the longer term, which we view as a significantly positive because it would enable MUL to reduce its dependence on the local market.
Tags: Dalal Street, Indian Stocks, Share Market, Emerging Market