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NewsCIMB Research maintains Outperform on My E.G, target price RM1.34
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CIMB Research maintains Outperform on My E.G, target price RM1.34
by Cals Tue 23 Apr 2013, 10:04
CIMB Research maintains Outperform on My E.G, target price RM1.34
Business & Markets 2013
Written by theedgemalaysia.com
Tuesday, 23 April 2013 08:58
A + / A - / Reset
KUALA LUMPUR (April 23): CIMB Research has maintained its Outperform rating on My E.G. Servics Bhd at 90 sen with a target price of RM1.34 and said MyEG was allegedly one of three shortlisted buyers of Khazanah’s stake in Time Engineering.
In a note Monday, the research house said its checks with management indicate that MyEG did not have any interest in buying this company.
“We continue to like its defensive business with recurring income. We maintain our EPS and target price, at 16x CY14 P/E, a 20% premium to our market target, supported by its above-market 3-year EPS CAGR.
“Higher-than-expected revenue growth from new services should catalyse the stock, in our view. MyEG remains our top pick in the TECHNOLOGY [] and small-cap sectors. Maintain Outperform,” it said.
Business & Markets 2013
Written by theedgemalaysia.com
Tuesday, 23 April 2013 08:58
A + / A - / Reset
KUALA LUMPUR (April 23): CIMB Research has maintained its Outperform rating on My E.G. Servics Bhd at 90 sen with a target price of RM1.34 and said MyEG was allegedly one of three shortlisted buyers of Khazanah’s stake in Time Engineering.
In a note Monday, the research house said its checks with management indicate that MyEG did not have any interest in buying this company.
“We continue to like its defensive business with recurring income. We maintain our EPS and target price, at 16x CY14 P/E, a 20% premium to our market target, supported by its above-market 3-year EPS CAGR.
“Higher-than-expected revenue growth from new services should catalyse the stock, in our view. MyEG remains our top pick in the TECHNOLOGY [] and small-cap sectors. Maintain Outperform,” it said.
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