Nirmal Bang has assigned a buy rating on Suzlon Energy with a target of Rs 194 in its October 7, 2008 research report. "We expect Suzlon to report a CAGR of 38.5% during FY08 to FY12E in net sales on the back drop of strong order book position and significant expansion plans of the company. These coupled with unprecedented demand for wind energy will drive growth for the company going forward. We expect Suzlon to report net profit CAGR of 54.7% during FY08 to FY12E. We assign a buy rating on the stock with the target price of Rs.194.0 per share which is 12X FY10 Diluted EPS of Rs 16.16 implying an upside of 52.6% from current levels," says Nirmal Bang's research report.
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