(BUY/Target: RM1.60)
VSI’s 2QFY16 core net profit was in line with our expectation. Although sales rose 7.7% yoy, core net profit grew by a higher 40.9% yoy, driven by margin expansion from a favourable product mix and operational efficiency. Given VSI’s recent subscription of a 12.1% stake in SML, its emergence as the key manufacturer for SML’s automobile products is a potential catalyst to the stock in the longer term. Maintain BUY and target price of RM1.60, based on 12x 2017F PE.
Source: UOB Kay Hian Research - 29 Mar 2016
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The Alpha Trader
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CS Tan
4.9 / 5.0
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....
newbie92
VS target price : RM1.6
2016-05-06 12:28