KUALA LUMPUR (May 31): CIMB IB Research has downgraded Karex Bhd to “Reduce” at RM2.05 with a lower target price of RM1.70 (from RM2.32) and said that on the back of weaker-than-expected earnings in 3QFY6/17, Karex’s 9MFY17 core net profit was below expectations at 56% of house FY17F estimate.
In a note today, the research house said the weaker-than-expected results were mainly due to i) higher operating expenses, ii) rising competition in tender segment and iii) higher latex prices.
It said near-to-medium term outlook is weak, given: i) strong competition in tender segment, ii) higher raw materials prices and iii) higher distribution expenses.
“We lower our FY17-19F EPS to account for: i) lower-than-expected ASPs, and ii) weaker tender market volumes.
“Downgrade to Reduce from Hold; target price lowered to RM1.70 (28x CY18 P/E),” it said.
wah, from rm2.60 until today rm1.80. total paperlose 16k. Share nowaday Long term oso die. die la! Cash company, ..... The Richer also kick off to lower. 被踢出富豪榜
this round will hit around 1.5 at least...this is what my fren told me, his fund house will sell anything above 1.5... and alot of institution do short sell for this start today..pls check the list tmr
condom manufacturing is sunset industry HIV and aids no more big issuewith modern medicene can lead normal life so much so people are now more prepared for unprotected sex worlds largest and complaining of competiton branding and distribution expenses for sunset industry nonsense go find a new productline i think one of the competitor is getting involved with some eye product smart management
FY result would be bad even though if they able to recover in final quarter. i think the upside is limited but downside it unlimited since the PE is incredible high....say say only.
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
MyInvest
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Posted by MyInvest > 2017-05-31 10:24 | Report Abuse
i feel this counter is good and can wait ....