Bursa Malaysia Stock Watch

Star Publications (M): Maintain Hold - Yet To Shine

kltrader
Publish date: Fri, 17 Aug 2012, 10:14 AM
kltrader
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  • Fourth consecutive quarter of YoY earnings contractions. Star's
  • 2Q12 earnings continued to disappoint. We estimate that 2Q12 print adex was again down 3-4% YoY.
  • Curiously, 2Q12 print earnings were flat QoQ although revenue grew 10% QoQ. Star's prognosis of a bearish outlook differs from ours. Maintain estimates, HOLD call and DCF-based TP of MYR3.26 pending its analyst briefing.
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Source: Maybank Research - 17 August 2012
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