Bursa Malaysia Stock Watch

UMW Holdings: Maintain Buy - Results Tracking Expectations

kltrader
Publish date: Fri, 17 Aug 2012, 10:10 AM
kltrader
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  • Maintain BUY and MYR11.45 TP. Results track expectations as 1H12 net profit accounts for 46% of our full-year forecasts.
  • We keep our forecasts unchanged and expect a stronger 2H12 performance anchored by its auto and O&G divisions.
  • Our target price is pegged to 13x FY13 PER, in line with its 5-year historical mean.
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Source: Maybank Research - 17 August 2012
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