J P Morgan believes that there is little room for outperformance at the Asian Paints counter from the current level
Asian Paints
Recommendation: Neutral at Rs 351.5
J P Morgan Securities
Initiating coverage on Asian Paints, J P Morgan beleives that most of the positives are already factored in the prevailing market price of Rs 351.45. Although the company is estimated to report a robust earnings growth of 20 per cent in this fiscal, this is widely known and discounted by the market. The scrip has outperformed the Sensex by 33 per cent over the past one year and relative valuations (16x FY03 earnings) are close to a ten-year high. Thus, there is little room for outperformance from the current levels.
I-flex Solutions
Recommendation: Buy at Rs 555
Kotak Securities
Kotak Securites is bullish about I-flex Solutions
