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CIMB Research retains Outperform on Dialog
by hlk Mon 15 Aug 2011, 13:11
KUALA LUMPUR: CIMB Equities Research is retaining its Outperform on DIALOG GROUP BHD [] after its 4QFY6/11 record net profit of RM45 million took full-year bottomline to an all-time high of RM152 million.
It said on Monday, Aug 15 that at 2% above its forecast and 3% higher than consensus estimates, Dialog's earnings were within expectations.
The 4Q dividend per share of 1.8 sen took FY11 DPS to 3.1 sen, matching FY10’s payout but missing its forecast of 4.0 sen.
“We maintain our EPS forecasts but trim our SOP-based target price from RM3.27 to RM3.21 after updating the net cash in our computation.
“Dialog remains an OUTPERFORM, with the potential catalysts being the marginal field development and Petronas’s US$20 billion Rapid project,” it said.
It said on Monday, Aug 15 that at 2% above its forecast and 3% higher than consensus estimates, Dialog's earnings were within expectations.
The 4Q dividend per share of 1.8 sen took FY11 DPS to 3.1 sen, matching FY10’s payout but missing its forecast of 4.0 sen.
“We maintain our EPS forecasts but trim our SOP-based target price from RM3.27 to RM3.21 after updating the net cash in our computation.
“Dialog remains an OUTPERFORM, with the potential catalysts being the marginal field development and Petronas’s US$20 billion Rapid project,” it said.
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