Bursa Malaysia Stock Watch
IOI Corporation RM5.23: Hold
kltrader
Publish date: Thu, 17 Nov 2011, 03:39 PM
kltrader
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Had a good run
Downgrade to Hold, as IOI's share price has surpassed our targetprice (+12% since we last upgraded the stock on 25 Aug, +20% from itsrecent bottom), and 1QFY12 earnings are expected to be weaker QoQ.Sentiment may be dampened by huge forex translation loss ofc.RM230m in 1QFY12 following a weaker Ringgit. We maintain ourearnings forecasts pending the release of 1Q results on 18 November.TP is unchanged at RM5.14 based on 16x FY13 PER.
Maybank research (17 November 2011)
Click here for full report ''
Downgrade to Hold, as IOI's share price has surpassed our targetprice (+12% since we last upgraded the stock on 25 Aug, +20% from itsrecent bottom), and 1QFY12 earnings are expected to be weaker QoQ.Sentiment may be dampened by huge forex translation loss ofc.RM230m in 1QFY12 following a weaker Ringgit. We maintain ourearnings forecasts pending the release of 1Q results on 18 November.TP is unchanged at RM5.14 based on 16x FY13 PER.
Maybank research (17 November 2011)
Click here for full report ''
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