Affin Hwang Capital Research Highlights
HwangDBS Research Highlights - 20 May 2013
Notion Vtec; Buy
Price Target: RM0.90 (Prev RM0.80); NVB MK
Entering new waters
Muted HDD segment buoyed by camera sector. New ventures a positive spin. Upgrade to BUY with higher RM0.90 TP.
PPB Group; Buy
Price Target: RM12.90; PEP MK
In line, weaker grains trading and flour margins
1Q13 in line, lifted by stronger Wilmar profits. Grains trading, flour and feed milling margins weakens. Tweaking earnings marginally to factor in new Wilmar’s earnings. Maintain HOLD, TP RM12.90.
Source: HwangDBS Research - 20 May 2013
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