Kotak Sec recommends 'buy' on JBF Industries
Kotak Securities has a 'buy' recommendation on JBF Industries Ltd for a target price of Rs 75 versus the current price of Rs 35.
By Agencies |
MUMBAI: Kotak Securities has a 'buy' recommendation on JBF Industries Ltd for a target price of Rs 75 versus the current price of Rs 35.
According to the brokerage, at Rs.35, the stock trades at 0.3x book value, 1.6x earnings and 1.0x cash earnings based on FY09E. The stock of JBF has corrected sharply by 47% in last three months.
Kotak Sec feels that such a sharp fall provides an opportunity for medium to long term investor to invest in the stock as we continue to remain positive on the long term growth prospects of the company.
In view of sharp correction in stock price, good growth potential and attractive current valuations we recommend BUY on JBF Industries Ltd. with revised price target of Rs.75 (Rs.100 earlier).
JBF Industries shares were higher by 3.87 per cent at Rs 36.20 on NSE.
According to the brokerage, at Rs.35, the stock trades at 0.3x book value, 1.6x earnings and 1.0x cash earnings based on FY09E. The stock of JBF has corrected sharply by 47% in last three months.
Kotak Sec feels that such a sharp fall provides an opportunity for medium to long term investor to invest in the stock as we continue to remain positive on the long term growth prospects of the company.
In view of sharp correction in stock price, good growth potential and attractive current valuations we recommend BUY on JBF Industries Ltd. with revised price target of Rs.75 (Rs.100 earlier).
JBF Industries shares were higher by 3.87 per cent at Rs 36.20 on NSE.
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