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Hot Stock IFCA MSC rises 1.23% on firm outlook, target price upgrade
by Cals Sat 18 Apr 2015, 01:04
Hot Stock
IFCA MSC rises 1.23% on firm outlook, target price upgrade
KUALA LUMPUR (April 17): Shares of IFCA MSC Bhd ([You must be registered and logged in to see this image.] Financial Dashboard) rose in early trade today on the back of positive outlook for the company and target price upgrade by CIMB Research.
At 9.20am, IFCA MSC was up two sen to RM1.64 with 533, 500 shares traded.
In a note on April 16, CIMB Research said it recently took IFCA MSC’s management on a roadshow in Singapore and Hong Kong.
CIMB Research has maintained “Add” on IFCA MSC at RM1.63 with a higher target price of RM1.92 (from RM1.48).
The research house said it met 21 fund managers from 18 institutions.
CIMB Research said investor interest was strong for IFCA MSC and some were surprised that it was successful in China.
“Management spoke about its plans to launch service as a software (SaaS) in the domestic market in mid-2015.
“We raise our FY15-17 EPS forecasts by 5%-28% to reflect potential earnings from SaaS, which lifts our target price, still based on 21x 2016 P/E (in line with domestic peers).
“The stock remains an Add. Potential catalysts include higher-than-expected take-up rates for SaaS and its transfer to the Main Board in 2H15,” it said.
IFCA MSC rises 1.23% on firm outlook, target price upgrade
KUALA LUMPUR (April 17): Shares of IFCA MSC Bhd ([You must be registered and logged in to see this image.] Financial Dashboard) rose in early trade today on the back of positive outlook for the company and target price upgrade by CIMB Research.
At 9.20am, IFCA MSC was up two sen to RM1.64 with 533, 500 shares traded.
In a note on April 16, CIMB Research said it recently took IFCA MSC’s management on a roadshow in Singapore and Hong Kong.
CIMB Research has maintained “Add” on IFCA MSC at RM1.63 with a higher target price of RM1.92 (from RM1.48).
The research house said it met 21 fund managers from 18 institutions.
CIMB Research said investor interest was strong for IFCA MSC and some were surprised that it was successful in China.
“Management spoke about its plans to launch service as a software (SaaS) in the domestic market in mid-2015.
“We raise our FY15-17 EPS forecasts by 5%-28% to reflect potential earnings from SaaS, which lifts our target price, still based on 21x 2016 P/E (in line with domestic peers).
“The stock remains an Add. Potential catalysts include higher-than-expected take-up rates for SaaS and its transfer to the Main Board in 2H15,” it said.
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