Buy PSL, target of Rs 181: SBICAP Securities

(My Original Blog Post: -*http://www.onlineequitycalls.com/2008/12/buy-psl-target-of-rs-181-sbicap-securities/)
SBICAP Securities has maintained its buy rating on PSL with price target of Rs 181 in its November 21, 2008 research report. "At the CMP of Rs 95, PSL is trading at a PE of 2.8x and 2.1x its FY08E and FY09E earning respectively. EV / EBITDA is at 3.9x and 3.2x FY08E and FY09E respectively. We initiate coverage on PSL with a buy rating and 12 month price target of Rs 181 implying an upside of 90%," says SBICAP Securities' research report.