OSK (5053, HLIB-BUY-TP RM1.77): Main market; Property

Maintain BUY with a RM1.77 TP (a 30% discount to SOP-derived of RM2.53). The stock is currently trading at undemanding 5.1x FY12/2024 P/E, supported by an attractive 5.7% FY24 dividend yield.

Poised for a bullish triangle breakout; A successful breakout above 1.25 will spur greater upside towards 1.30-1.33-1.36 zones

✅Current price: RM1.22

✅Entry price: RM1.14-1.18-1.23

✅Resistance: RM1.30-1.33-1.36

✅Cut loss: 1.12

✅FY12/2024E P/E: 5.1x

✅FY12/2024E DY: 5.7%

✅Risk profile: Low

Source: Hong Leong Investment Bank Research - 13 Dec 2023