Affin Hwang Capital Research Highlights
HwangDBS Research Highlights - 10 Mar 2014
PPB Group; HOLD; RM16.40
Price target:RM15.30; PEP:MK
A stronger year, but valuation is fair
Higher flour volume with new capacity. Cinema business still in expansion mode. Capex commitment leaves little room for dividends to surprise. HOLD, TP of RM15.30 based on SOP metric.
Source: HwangDBS Research - 10 Mar 2014
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