JP Morgan upgrades Godrej Consumer shares

At 9:26 a.m,shares of Godrej Consumer were up 1.36 percent at 416 rupees.

Written by Agencies | Published:January 25, 2012 11:53 am

JP Morgan has upgraded Adi Godrej-led Godrej Consumer Products to overweight from neutral and raised its target price to 475 rupees from 455 rupees citing risk-reward is becoming favorable with expected EPS CAGR of 20 per cent over FY11-14.

Current valuations of the stock are pricing in many of the concerns about lower returns of overseas operations,the bank said in a note on Tuesday.

At 9:26 a.m,shares of Godrej Consumer were up 1.36 percent at 416 rupees.

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