Bursa Malaysia Stock Watch
CIMB - OSK Research maintains Overweight on banking sector
kltrader
Publish date: Tue, 07 Sep 2010, 03:51 PM
kltrader
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Stock Name: CIMB
Company Name: CIMB GROUP HOLDINGS BERHAD
Research House: OSK
KUALA LUMPUR: OSK Research is maintaining its Overweight recommendation on the sector.
'The current industry average valuation of 2.1 times CY10 price-to-book value is at a 16% premium to its historical average of 1.8 times, but we think that this is justifiable given our domestic banks' promising progress in their regional forays, which will enhance future growth prospects,' it said on Tuesday, Sept 7.
OSK Research said the industry's strong capitalization provides future capital management upside surprises, which have yet to be fully reflected in banks' valuations.
The research house's top large cap banking top picks are CIMB (Buy, TP: RM8.70), Maybank (Buy, TP: RM9.25) and mid-cap stock RHB Cap (Buy, TP: RM7.85).
Company Name: CIMB GROUP HOLDINGS BERHAD
Research House: OSK
KUALA LUMPUR: OSK Research is maintaining its Overweight recommendation on the sector.
'The current industry average valuation of 2.1 times CY10 price-to-book value is at a 16% premium to its historical average of 1.8 times, but we think that this is justifiable given our domestic banks' promising progress in their regional forays, which will enhance future growth prospects,' it said on Tuesday, Sept 7.
OSK Research said the industry's strong capitalization provides future capital management upside surprises, which have yet to be fully reflected in banks' valuations.
The research house's top large cap banking top picks are CIMB (Buy, TP: RM8.70), Maybank (Buy, TP: RM9.25) and mid-cap stock RHB Cap (Buy, TP: RM7.85).
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