Report for 3i Infotech

Angel Broking has maintained buy rating on 3i Infotech with target price of Rs 188, in its report. "Going ahead, we expect 3i Infotech to maintain a CAGR growth of 36.6% in Topline over FY2008-10E, while Bottomline is expected to grow at a CAGR of 27.4% in the mentioned period. We expect EBITDA Margins to fall by an average 50bp annually until FY2010, as the company’s focus shifts towards transaction processing, where Margins are typically lower. At the CMP, the stock is trading at 8.4x FY2010E EPS."