Bursa Malaysia Stock Watch

AEON Co. (M): Downgrade to Hold - Journey to the East

kltrader
Publish date: Wed, 18 Apr 2012, 11:14 AM
kltrader
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Downgrade to Hold. AEON's share price is up an impressive 33% YTD and has breached our TP of RM8.70 (pegged at 14x 2013 PER). With little upside catalyst at this stage and low dividend yield as support, we downgrade our recommendation from Buy to Hold. We forecast revenue growth of 6.8% for the group in 2012, in line with the 6% industry growth expected by the Retail Association of Malaysia.

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Source: Maybank Research - 18 April 2012
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