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Results Preview AffinHwang Capital upgrades Supermax to Buy

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Results Preview AffinHwang Capital upgrades Supermax to Buy

Post by Cals Mon 15 Feb 2016, 19:56

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[size=28]AffinHwang Capital upgrades Supermax to Buy

By theedgemarkets.com / theedgemarkets.com | February 15, 2016 : 8:40 AM MYT

KUALA LUMPUR (Feb 15): AffinHwang Capital Research has upgraded Supermax Corporation Bhd to “Buy” with a higher target price of RM3.40 (from RM2.20) and said Supermax is scheduled to release its 4QCY15 results in the last week of February.

In a note today, the research house said it is expecting a strong set of results due to higher installed capacity as Plants 10 & 11 are now operational.

“Its share price has corrected by 14% year-to-date; given our upward earnings revisions, we see value emerging in the stock.

“We raise our target price to RM3.40 at 16x FY16 PE due to the better earnings visibility. Upgrade to Buy on valuations,” it said.

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Cals: Administrator; Posts : 25277 Credits : 57721 Reputation : 1766
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