Parag Parikh Financial Advisory Services has recommended a buy rating on MphasiS with price target of Rs 406 in its report dated May 21, 2009.
“With EPS at Rs 10.69, the company seems to be on its way to achieve an annual EPS in its fourth decile, with a conservative estimate at Rs 40.6. This brings the earnings multiple to around 7 times at CMP. We recommend a BUY at 10 times one year forward earnings with a target price of Rs 406,” says Parag Parikh Financial Advisory Services’ report.
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