Goldman Sachs View on Crompton Greaves

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Goldman Sachs has upgraded Crompton Greaves to buy from neutral and has raised its target price to Rs 155 from Rs 120, citing better prospects of domestic orders and margins. 

The investment bank says the company would benefit from the balance sheet restructuring of state electricity boards and power sector reforms as over 25% of its revenues are driven by domestic power transmission and distribution capex. The investment bank also said that the company is trading at attractive valuations.

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