Affin Hwang Capital Research Highlights
HwangDBS Research Highlights - 5 Feb 2014
Pos Malaysia; Hold; RM5.54
Price target: RM5.60 ; POSM:MK
Taking a break
Stock has gained 124% in 18 months; priced in synergies and narrowing upside to our TP. Valuation is fair, on par with peers. May
face higher opex in FY15-16. Downgrade to HOLD due to limited upside to our SOP-based TP of RM5.60.
Source: HwangDBS Research - 5 Feb 2014
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