Bursa Malaysia Stock Watch
MBM Resources: Maintain Hold - No Catalyst In Sight
kltrader
Publish date: Mon, 13 Aug 2012, 10:06 AM
kltrader
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No Catalyst In Sight
Source: Maybank Research - 13 August 2012
- Maintain HOLD, TP raised to MYR4.30 (9x 2013 PER). We raise our FY12-14 earnings forecasts by 1-7% and target price by 6% (basis unchanged) post the analyst briefing last Friday, on a stronger vehicle sales outlook for Volvo, VW as well as Hino models.
- Despite the profit upgrades, there is still no compelling operating, financial or operational tie-up catalyst in the short/medium term to warrant a re-rating of the stock.
Source: Maybank Research - 13 August 2012
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