Bursa Malaysia Stock Watch
Hock Seng Lee: Buy
kltrader
Publish date: Wed, 23 Nov 2011, 12:31 PM
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.
Not spared from the slow order flows Shariah-compliant
Maintain Buy but on a lower target price. 9M11 net profit, at RM61m (+18% YoY), was a slight shortfall at 68% of our earlier full-yearforecast on slower-than-expected 3Q revenue recognition. We lower our 2011 net profit forecast by 4% and 2012-13 forecasts by 7-9%. Our 12x PER based target price on 2012 earnings is trimmed to RM2.10 (-9%). Valuations stay attractive at single-digit PERs as we continue to expect sizeable jobs to fuel the state's energy-driven industrialisation.
Maybank research (23 November 2011)
Click here for full report ''
Maintain Buy but on a lower target price. 9M11 net profit, at RM61m (+18% YoY), was a slight shortfall at 68% of our earlier full-yearforecast on slower-than-expected 3Q revenue recognition. We lower our 2011 net profit forecast by 4% and 2012-13 forecasts by 7-9%. Our 12x PER based target price on 2012 earnings is trimmed to RM2.10 (-9%). Valuations stay attractive at single-digit PERs as we continue to expect sizeable jobs to fuel the state's energy-driven industrialisation.
Maybank research (23 November 2011)
Click here for full report ''
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