UOB Kay Hian Research Articles
Kim Loong Resources: Positive Factor Reflected In Share Price; Downgrade To HOLD
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Publish date: Thu, 14 Sep 2017, 09:44 AM
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UOB Kay Hian Securities (M) Sdn Bhd (194990-K)
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All materials published here are prepared by UOB Kay Hian. For latest offers on UOB Kay Hian trading products and news, please refer to: http://www.utrade.com.my
UOB Kay Hian Securities (M) Sdn Bhd (194990-K)
Hotline:
1800 UTRADE /
1800 88 7233 (Securities)
+6088 235611 (Futures)
Email: contact@utrade.com.my
(KIML MK/HOLD/RM3.90/Target: RM4.10)
We believe current share price reflects the company’s value. Moreover the shortlong term outlook is unexciting. Management indicates lower OER in FY18. Thus, we slash our FY18 EPS forecast by 24% but increase FY19-20 EPS forecasts by 3.1% and 3.2% respectively after factoring in higher milling capacity. Yields remain attractive at 4-5%. Downgrade to HOLD but maintain target price at RM4.10.
Source: UOB Kay Hian Research - 14 Sept 2017
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