After JP Morgan, Citigroup, Bofa Merrill its now Morgan Stanley Downgrading SENSEX EPS Estimates and Target for FY 2014 and 2015. Based on the Broad market earnings growth forecast for F2014 to -6% from 12% and introducing an estimate of 5% for F2015. Morgan Stanley [MS] Cut Sensex earnings growth estimates from 10.5% to 4.1% for F2014 and from 19.0% to 12.7% for F2015.
Morgan’s SENSEX Valuation Model
Base Case [50% Probablity] – SENSEX EPS estimate is Rs 1320 and a Target of (more…)