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Hot Stock SKP Resources rises 2.8% after PublicInvest Research starts coverage
by Cals Wed 22 Apr 2015, 19:29
Hot Stock
SKP Resources rises 2.8% after PublicInvest Research starts coverage
KUALA LUMPUR (April 22): Shares of SKP Resources Bhd ([You must be registered and logged in to see this image.] Financial Dashboard) rose in early trade today afterPublicInvest Research initiated coverage on the stock with an “Outperform” rating and target price of RM1.07 and said the company was debt-free, had double-digit Return on Equity and Return on Asset, healthy cash conversion cycles and until recently, a tidy sum in its war chest.
At 9.15am, SKP rose 2.82% or 2.5 sen to 91 sen with 1.52 million shares done.
In a note today, the research house said these were all impressive characteristics for any company, and one which has registered recent 4-year revenue and net profit CAGRs of 10.5% and 12.5% (up to FY 03/15) respectively.
“Add to that the 3-year net profit CAGR (FY 03/14 – FY 03/17) of 45.7% with capital expenditure and expansions financed by internally-generated funds and only recently, share issuances, it all makes for an astutely-run company, all the more impressive a manufacturing concern.
“We initiate coverage on SKP Resources with an Outperform call and a PE-derived target price of RM1.07.
“The Group is primed for another growth spurt in the coming few financial years, underpinned by the expected increase in orders from its key existing clients,” it said.
SKP Resources rises 2.8% after PublicInvest Research starts coverage
KUALA LUMPUR (April 22): Shares of SKP Resources Bhd ([You must be registered and logged in to see this image.] Financial Dashboard) rose in early trade today afterPublicInvest Research initiated coverage on the stock with an “Outperform” rating and target price of RM1.07 and said the company was debt-free, had double-digit Return on Equity and Return on Asset, healthy cash conversion cycles and until recently, a tidy sum in its war chest.
At 9.15am, SKP rose 2.82% or 2.5 sen to 91 sen with 1.52 million shares done.
In a note today, the research house said these were all impressive characteristics for any company, and one which has registered recent 4-year revenue and net profit CAGRs of 10.5% and 12.5% (up to FY 03/15) respectively.
“Add to that the 3-year net profit CAGR (FY 03/14 – FY 03/17) of 45.7% with capital expenditure and expansions financed by internally-generated funds and only recently, share issuances, it all makes for an astutely-run company, all the more impressive a manufacturing concern.
“We initiate coverage on SKP Resources with an Outperform call and a PE-derived target price of RM1.07.
“The Group is primed for another growth spurt in the coming few financial years, underpinned by the expected increase in orders from its key existing clients,” it said.
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