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Strategy MIDF Research maintains end 2014 KLCI target of 1,900 points

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Strategy MIDF Research maintains end 2014 KLCI target of 1,900 points Empty Strategy MIDF Research maintains end 2014 KLCI target of 1,900 points

Post by Cals Wed 24 Sep 2014, 02:30

Strategy MIDF Research maintains end 2014 KLCI target of 1,900 points
Business & Markets 2014
Written by theedgemalaysia.com   
Tuesday, 23 September 2014 09:30

KUALA LUMPUR (Sept 23): MIDF Research has maintained its end 2014 FBM KLCI target at 1,900 points and said the current year consensus earnings estimate of the FBM KLCI had seen persistent down revisions pursuant to the past three reporting seasons.
In a note Tuesday, the research house said it was rather perplexing as the earnings underperformance coincided with the better than expected macroeconomic numbers which led to the upward revision in Malaysia’s 2014 GDP target.
“The apparent disconnect may be attributable to the externally-driven macro performance vis-à-vis the mainly domestic earnings dependency among the major listed companies.
“Consequently, the 2014 EPS estimate has declined from 113.41 in early January to 109.81 in mid-September.
“The prospect in 2015 notwithstanding, we reiterate our FBM KLCI 2014 year-end target of 1,900 points,” it said.
 
 
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