Bursa Malaysia Stock Watch

Ta Ann Holdings: Maintain Buy - 2H12 - The Better Half

kltrader
Publish date: Wed, 22 Aug 2012, 09:53 AM
kltrader
0 20,638
This blog provides consolidated Bursa Malaysia stock market research, analysis, news and blogs from various sources. You can search and find all the past analysis and coverage on stocks and news by searching within this site. While this blog re-publishes contents from other sites, it does not own the rights nor responsible for the accuracy of the contents. If you disagree to your content from being published here, please add a comment, and your article will be removed from this site.
  • Within our expectation. 2Q12 results came in within our expectation, but below street estimates. 2Q12 net profit of MYR13m (+16% QoQ, - 75% YoY) was weaker YoY on low FFB output and a higher effective tax rate of 37%.
  • As FFB output is seasonally low in 1H, we expect a significantly stronger 2H12. Our earnings forecasts are unchanged.
  • We continue to like Ta Ann's medium term growth prospects. Maintain BUY with an unchanged 12M TP of MYR5.30 based on 15x 2013 PER.
Click here for full report

Source: Maybank Research - 22 August 2012
Related Stocks
Discussions
Be the first to like this. Showing 0 of 0 comments

Post a Comment