Bursa Malaysia Stock Watch
Public Bank: Maintain Buy - Steady as usual
kltrader
Publish date: Tue, 24 Jul 2012, 09:44 AM
kltrader
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Buy; upgrading target price. 2Q12 results (flat YoY at MYR953m) threw up no major surprises and were within our forecast and consensus. It is business as usual for the group and most financial indicators continue to exhibit strength. For its strong fundamentals and resilient earnings base (the more volatile treasury, investment banking and Hong Kong operations account for just 8% of total pretax), a higher P/BV target is justified, in our view, and our target price is raised to 3.2x (1sd above mean) from 3x before, premised on a 2012 ROE of 23.1%.
Click here for full report
Source: Maybank Research - 24 July 2012
Click here for full report
Source: Maybank Research - 24 July 2012
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evelygtc
I waited and waited for PBBank to go down before I invest with my retirement fund. But it is going up and up. Is it adviseable to buy in now at this price of 18.46? Can anyone advise me?
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