Lehman Brothers - Reliance Energy

Lehman Brothers initiate coverage of Reliance Energy with a Overweight rating and a target price of Rs 880, offering 15% upside potential.

They believe Reliance Energy offers a unique vehicle to capture growth

They are also into foraying into other areas of infrastructure, like toll roads, MRTS, etc.

Large cash in the balance sheet and its non-deployment is a overhang