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Results Preview Inari to report a weak set of 3QFY16 earnings, says AffinHwang Capital

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Results Preview Inari to report a weak set of 3QFY16 earnings, says AffinHwang Capital

Post by Cals Wed 04 May 2016, 21:26

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[size=28]Inari to report a weak set of 3QFY16 earnings, says AffinHwang Capital

By theedgemarkets.com / theedgemarkets.com | May 4, 2016 : 8:40 AM MYT

KUALA LUMPUR (May 4): AffinHwang Capital Research has maintained its “Buy” rating on Inari Amertron Bhd with a lower target price of RM3.54 (from RM4.12) and said it expects Inari to report a weak set of 3QFY16 earnings on May 18 as inventory continues to be worn down and on concerns over a lacklustre new model later this year.

In a note today, the research house said in view of this it cut its FY16-18E EPS for Inari by 27-30%.

“We lower our targer price to RM3.54 on the EPS cut but we roll forward our valuation horizon to 2017.

“Still a Buy despite an earnings blip as RF and fibre optic prospects remains exciting,” it said.

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