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Hot Stock Bonia rises on firmer 3Q15 results forecast
by Cals Tue 19 May 2015, 18:11
Hot Stock
Bonia rises on firmer 3Q15 results forecast
KUALA LUMPUR (May 19): Shares of Bonia Corporation Bhd ([You must be registered and logged in to see this image.] Financial Dashboard) rose this morning after CIMB Research maintained its “Add” rating on the stock with a target price of RM1.43 and said Bonia’s 3Q15 results were expected to be stronger than 1Q15’s and 2Q15’s due to the aggressive pre-GST promotional sales campaigns.
At 10.05am, Bonia rose 2.78% or 3 sen to RM1.11 with 1,000 shares done.
CIMB Research said Bonia’s results were scheduled for release on May 26.
It said the pre-GST campaigns should compensate for the anticipated slowdown in sales post-GST, which it said would last for the next 3–6 months.
“We make no changes to our EPS forecasts and target price, based on 16.3x CY16 P/E which is consistent with the sector average.
“We reiterate our Add recommendation. Improved domestic consumer sentiment and higher-than-expected sales growth are potential re-rating catalysts,” it said.
Bonia rises on firmer 3Q15 results forecast
KUALA LUMPUR (May 19): Shares of Bonia Corporation Bhd ([You must be registered and logged in to see this image.] Financial Dashboard) rose this morning after CIMB Research maintained its “Add” rating on the stock with a target price of RM1.43 and said Bonia’s 3Q15 results were expected to be stronger than 1Q15’s and 2Q15’s due to the aggressive pre-GST promotional sales campaigns.
At 10.05am, Bonia rose 2.78% or 3 sen to RM1.11 with 1,000 shares done.
CIMB Research said Bonia’s results were scheduled for release on May 26.
It said the pre-GST campaigns should compensate for the anticipated slowdown in sales post-GST, which it said would last for the next 3–6 months.
“We make no changes to our EPS forecasts and target price, based on 16.3x CY16 P/E which is consistent with the sector average.
“We reiterate our Add recommendation. Improved domestic consumer sentiment and higher-than-expected sales growth are potential re-rating catalysts,” it said.
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