CIMB Research raises Bursa Malaysia to Trading Buy (1818)

by **hlk** Thu 19 Jul 2012, 11:01

KUALA LUMPUR: CIMB Equities Research has upgraded Bursa Malaysia from Neutral to Trading Buy on the expectation of an active equity market in the third quarter which has a few big IPOs lined up.

“The stock is not an Outperform because of uncertain longer-term prospects for the market,” it said on Thursday as it maintained the target price at RM7.28.

CIMB Research said the KLCI's rise did not filter through to Bursa's first half net profit, which edged up by only 3.3% due to lower market velocity.

“At 52%-53% of our full-year forecast and consensus numbers, we regard the H1 earnings as in line as 4Q earnings are mostly the weakest in the year,” it said.

The research house continued to value Bursa at a target CY13 price-to-earnings of 24 times, based on a 20% discount to its five-year average.

by **Bursa berserker** Thu 19 Jul 2012, 15:55

Wa good :D

CIMB Research raises Bursa Malaysia to Trading Buy (1818)

CIMB Research raises Bursa Malaysia to Trading Buy (1818)

Re: CIMB Research raises Bursa Malaysia to Trading Buy (1818)