Bursa Malaysia Stock Watch
HLBANK - OSK, MIDF lift Hong Leong target price
kltrader
Publish date: Fri, 20 Aug 2010, 01:57 PM
kltrader
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Stock Name: HLBANK
Company Name: HONG LEONG BANK BHD
Research House: MIDF
OSK Research and MIDF Research have raised their target price on Hong Leong Bank after raising their financial year 2011-2012 earnings forecasts by 14.1 per cent and 8.5 per cent respectively.
Both research houses today revised upwards their target price to RM9.20 for the Hong Leong Bank stock from RM8.80 previously.
"Although the share price upside from current levels is rather limited, we are maintaining our trading ''buy'' recommendation as a successful merger with EONCap could see a re-rating in our fair value for Hong Leong Bank to RM9.80 on the back of higher book value accretion and return on equities of 16 per cent," OSK Research said in a statement.
MIDF Research said that it has raised earnings per share forecast for Hong Leong Bank for financial year 2011 to 72.3 sen from 63 sen previously.
"Our earnings per share forecast for financial year 2011 and 2012 implies a net profit growth of 6.0 per cent and 8.5 per cent respectively," it said in a research note today.
It, however, maintained neutral call on the Hong Leong Bank stock. -- Bernama
Company Name: HONG LEONG BANK BHD
Research House: MIDF
OSK Research and MIDF Research have raised their target price on Hong Leong Bank after raising their financial year 2011-2012 earnings forecasts by 14.1 per cent and 8.5 per cent respectively.
Both research houses today revised upwards their target price to RM9.20 for the Hong Leong Bank stock from RM8.80 previously.
"Although the share price upside from current levels is rather limited, we are maintaining our trading ''buy'' recommendation as a successful merger with EONCap could see a re-rating in our fair value for Hong Leong Bank to RM9.80 on the back of higher book value accretion and return on equities of 16 per cent," OSK Research said in a statement.
MIDF Research said that it has raised earnings per share forecast for Hong Leong Bank for financial year 2011 to 72.3 sen from 63 sen previously.
"Our earnings per share forecast for financial year 2011 and 2012 implies a net profit growth of 6.0 per cent and 8.5 per cent respectively," it said in a research note today.
It, however, maintained neutral call on the Hong Leong Bank stock. -- Bernama
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