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RHB Research maintains Buy on Westports, ups fair value to RM3.23

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RHB Research maintains Buy on Westports, ups fair value to RM3.23 Empty RHB Research maintains Buy on Westports, ups fair value to RM3.23

Post by Cals Thu 19 Jun 2014, 03:08

RHB Research maintains Buy on Westports, ups fair value to RM3.23
Business & Markets 2014
Written by theedgemalaysia.com   
Wednesday, 18 June 2014 08:01

KUALA LUMPUR (June 18): RHB Research has maintained its Buy rating on Westports Holdings Bhd at RM2.69 with a higher fair value (FV) of RM3.23 (from RM2.91) after China’s Ministry of Commerce (CMC) rejected the proposed P3 alliance on the basis that it would “restrict competition”.

In a note Wednesday, the research house said P3 had been seen as a stumbling block to Westports’ longer term outlook as it could potentially grow in size.

“The 2-3% upward earnings revision in our throughput forecasts will lift our DCF value from RM2.91 to RM3.23 per share. Maintain Buy,” said the research house.
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