Bursa Malaysia Stock Watch
IJMPLNT - AmResearch keeps Buy on IJM Plantations, ups FV to RM3.20
kltrader
Publish date: Thu, 28 Oct 2010, 01:37 PM
kltrader
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Stock Name: IJMPLNT
Company Name: IJM PLANTATIONS BHD
Research House: AMMB
KUALA LUMPUR: AmResearch is keeping its BUY''on IJM PLANTATION []S BHD [] with an increased fair value of RM3.20/share to account for a higher CPO price assumption.
'We like IJM Plantations for its pure exposure to CPO prices. We estimate that for every RM100/tonne change in CPO price, IJM Plantation's net profit would improve by 3% to 4%,' it said on Thursday, Oct 28.
AmResearch assumed an unchanged PE of 17 times on IJM Plantations' FY12F basic EPS. Its PE-multiple assumption''is within IJM P's four-year historical PE band of 6 times to 28 times. The group's average PE was 19 times for the past four years.
Company Name: IJM PLANTATIONS BHD
Research House: AMMB
KUALA LUMPUR: AmResearch is keeping its BUY''on IJM PLANTATION []S BHD [] with an increased fair value of RM3.20/share to account for a higher CPO price assumption.
'We like IJM Plantations for its pure exposure to CPO prices. We estimate that for every RM100/tonne change in CPO price, IJM Plantation's net profit would improve by 3% to 4%,' it said on Thursday, Oct 28.
AmResearch assumed an unchanged PE of 17 times on IJM Plantations' FY12F basic EPS. Its PE-multiple assumption''is within IJM P's four-year historical PE band of 6 times to 28 times. The group's average PE was 19 times for the past four years.
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