Bursa Malaysia Stock Watch
WCT RM2.38: Buy
kltrader
Publish date: Fri, 18 Nov 2011, 09:58 AM
kltrader
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This blog provides consolidated Bursa Malaysia stock market research, analysis, news and blogs from various sources. You can search and find all the past analysis and coverage on stocks and news by searching within this site. While this blog re-publishes contents from other sites, it does not own the rights nor responsible for the accuracy of the contents. If you disagree to your content from being published here, please add a comment, and your article will be removed from this site.
Shortfall again
Buy call maintained, but with a lower target price. 9M11 net profit ofRM114.5m (+15% YoY) made up just 68% of our earlier full-yearforecast and 70% of consensus. Construction works recognition wasslower than expected and 3Q results included another RM3m of forexloss lifting total forex loss to RM16m for 9M11. We lower our 2011 netprofit forecast by 8% and 2012-13 forecasts by 12-15%. This puts ourTP, which is largely earnings based, at a lower RM2.75 (-11%).
Maybank research (18 November 2011)
Click here for full report ''
Buy call maintained, but with a lower target price. 9M11 net profit ofRM114.5m (+15% YoY) made up just 68% of our earlier full-yearforecast and 70% of consensus. Construction works recognition wasslower than expected and 3Q results included another RM3m of forexloss lifting total forex loss to RM16m for 9M11. We lower our 2011 netprofit forecast by 8% and 2012-13 forecasts by 12-15%. This puts ourTP, which is largely earnings based, at a lower RM2.75 (-11%).
Maybank research (18 November 2011)
Click here for full report ''
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