Accumulate KPIT Cummins, target Rs 150 – Prabhudas Lilladher

Prabhudas Lilladher has recommended an accumulate rating on KPIT Cummins, with price target of Rs 150, in its report dated February 22, 2010. The stock closed at Rs 108.85 on February 22, 2010.

“We expect KPIT Cummins to report organic growth of 1-2% QoQ and inorganic growth of 7-8% QoQ in USD terms for Q4FY10. We expect the stability in Cummins business as a precursor to the growth from it. We anticipate Sparta acquisition along with improvement in automotive & semiconductor sector and stability in Cummins business to help KPIT deliver stronger growth than its peers. We reiterate our “Accumulate” rating, with a target price of Rs 150, a target multiple of 12x FY11 earning,” says Prabhudas Lilladher report.

Related posts:

1. Accumulate RIL, target of Rs 1558: Prabhudas Lilladher
2. Reduce Infosys, target of Rs 1,246: Prabhudas Lilladher
3. Accumulate Ultratech Cement, target of Rs 602: P Lilladher
4. Reduce Crompton Greaves, target of Rs 259: P Lilladher
5. Accumulate Shriram Transport, target of Rs 247: SKP Sec

Tagged as: KPIT, KPIT Cummins, KPIT Cummins -organic growth, Prabhudas Lilladher, Prabhudas Lilladher Advice, Prabhudas Lilladher Tips