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NewsCIMB Research has Trading Buy on Sime, TP RM11 (4197)
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CIMB Research has Trading Buy on Sime, TP RM11 (4197)
by hlk Thu 20 Sep 2012, 10:27
KUALA LUMPUR: CIMB Equities Research is maintaining its Trading Buy on Sime Darby with a target price of RM11, which is an upside of 12.4% from its current price of RM9.79.
It
said on Thursday the company's revelation that new orders for heavy
equipment from miners in Australia and contractors in China have
slowed, potentially leading to a lower order book, is a negative.
“But
it is not a surprise. This could lead to weaker earnings, though we
expect a maiden full-year contribution from Bucyrus and higher sales in
“parts and services” to partially offset the slower new sales,” it said.
CIMB Research said it maintained its Trading Buy call and target price (based on 10% discount to sum-of-parts).
However, it said the stock is not an Outperform due to export tax policy risk in Malaysia.
It
said on Thursday the company's revelation that new orders for heavy
equipment from miners in Australia and contractors in China have
slowed, potentially leading to a lower order book, is a negative.
“But
it is not a surprise. This could lead to weaker earnings, though we
expect a maiden full-year contribution from Bucyrus and higher sales in
“parts and services” to partially offset the slower new sales,” it said.
CIMB Research said it maintained its Trading Buy call and target price (based on 10% discount to sum-of-parts).
However, it said the stock is not an Outperform due to export tax policy risk in Malaysia.
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