vishnuvega
10-05-2009, 07:17 AM
CMP: Rs 769.15
Target price: Rs 876
Morgan Stanley has retained its ‘overweight’ rating on Reliance Infrastructure and raised its target price for the stock to Rs 876. We believe the key concerns amongst investors over the stock have primarily been around execution and visibility, or recoverability, of cash and its equivalents.
On execution, the financial closures of Sasan UMPP (4,000 MW) and Delhi Metro, construction work on Rosa I and Sasan UMPP, increasing size of the EPC business and completion of two road projects are steps in the right direction, in our view,” a Morgan Stanley note to clients said.
Target price: Rs 876
Morgan Stanley has retained its ‘overweight’ rating on Reliance Infrastructure and raised its target price for the stock to Rs 876. We believe the key concerns amongst investors over the stock have primarily been around execution and visibility, or recoverability, of cash and its equivalents.
On execution, the financial closures of Sasan UMPP (4,000 MW) and Delhi Metro, construction work on Rosa I and Sasan UMPP, increasing size of the EPC business and completion of two road projects are steps in the right direction, in our view,” a Morgan Stanley note to clients said.