HPMT’s recovery in FY21 is firmly in motion with higher utilisation rates seen in 1Q21, within management’s guidance of 65-75%. Demand recovery is driven by restocking activities by distributors after laying low last year. Raw material costs pressure should also pass through given stronger demand. On the whole, expansionary manufacturing activities in key markets bode well for HPMT’s products. We tweak upwards FY21-22 earnings by 2-6%. Maintain HOLD rating with higher TP of RM0.62 (based on FY21 core EPS of 4.1sen pegged to 15x PE).
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....
Posted by adamking > 2020-12-02 15:31 | Report Abuse
Going to rocket