Angel Broking - Cravatex - Initiating Coverage

5 views

Skip to first unread message

RAJESH DESAI

unread,

May 17, 2012, 8:18:56 AM5/17/12

to LONGTERMINVESTORS, DAILY REPORTS, library-of-eq...@googlegroups.com, ai...@googlegroups.com, equity-rese...@googlegroups.com, globalspeculators, STOCK BUFFS, stock...@googlegroups.com

Dear All,

Forwarding you the Initiating Coverage on Cravatex with a Buy recommendation and a Target Price of `800 (12 months).

Cravatex Ltd. (Cravatex) is a market leader in providing fitness equipment distribution under its brand Proline Fitness and represents the 100-year old Italian brand, FILA, in India. Cravatex has recently acquired sub-license to distribute the products of FILA in the United Kingdom (UK) and Ireland. The company has also been forming strategic partnerships with various health club chains in India such as Talwalkars and Gold Gym in the fitness equipment segment. Cravatex is trading at an attractive 9.8x PE and 0.5x EV/Sales on FY2014E. We recommend Buy on Cravatex with a target price of `800, based on target PE of 12x and implied EV/Sales of 0.6x for FY2014E.

Kindly click on the following link to view the Report.

Cravatex

If you have any Stock related queries, feel free to call us on 022 39357600, Extn: 6865 or mail us at advi...@angelbroking.com. For Non-Research Queries, kindly contact Feedback Team on (Area STD Code) 33551111 or mail at feed...@angelbroking.com

With best regards,
Fundamental Advisory Desk
Angel Broking
Akruti Star,6^th Floor, Road No.7,MIDC, Andheri (E),Mumbai – 93.
Call : (91) (022) 39357600 Ext. 6865
Website : www.angelbroking.com

Disclaimer: Ours is an advisory role. The final decision and consequences based on our information is solely yours. Moreover, in keeping with regulatory guidelines, we do not guarantee any returns on investments. Prospective investors and others are cautioned that any forward-looking statements are not predictions and may be subject to change without notice.