Bursa Malaysia Stock Watch
Lafarge Malayan Cement: Buy
kltrader
Publish date: Wed, 23 Nov 2011, 12:29 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.
Proxy to major wins in construction Shariah-compliant
Maintain Buy. 9M11 net profit of RM201m (-7% YoY) was below expectations, at 68% of our full-year forecast and 63% of consensus. However, we continue to see LMC as a proxy to the local construction sector which should receive a significant lift in job flows next year. Meanwhile, LMC's share price is well-supported by its decent net dividend yield of >5%. Our 2011 EPS is lowered by 5% but our 2012-13 forecasts and TP of RM7.60 (17x 2013 PER) are retained.
Maybank research (23 November 2011)
Click here for full report ''
Maintain Buy. 9M11 net profit of RM201m (-7% YoY) was below expectations, at 68% of our full-year forecast and 63% of consensus. However, we continue to see LMC as a proxy to the local construction sector which should receive a significant lift in job flows next year. Meanwhile, LMC's share price is well-supported by its decent net dividend yield of >5%. Our 2011 EPS is lowered by 5% but our 2012-13 forecasts and TP of RM7.60 (17x 2013 PER) are retained.
Maybank research (23 November 2011)
Click here for full report ''
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