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Maybank raises UMW forecast (4588)
by hlk Thu 26 Jul 2012, 17:14
Maybank Investment Bank Research has raised its earnings forecast on UMW Holdings Bhd by between seven per cent and
11 per cent for the 2012 and 2013 financial years, on stronger contributions from the automotive sector.
In
a research note today, Maybank Investment said currently, the sales for
Toyota and Perodua had respectively accounted for 56 per cent and 49
per cent of its full year forecast.
"We expect a stronger performance for the second half of this year, aided by new launches.
"Our
2012 total industry volume (TIV) forecast is raised by eight per cent
to 100,200 units for Toyota while our TIV forecast for Perodua remained
at 188,000," the research house said.
Furthermore, Maybank
Investment viewed UMW Holdings' move to focus on its upstream oil and
gas business positively, with the potential doubling of its jack-up rig
fleet to four, from two at present.
The research house
maintained its 'buy' call on the group, with an upgraded target price
of RM11.45, from RM9.55 previously. -- Bernama
11 per cent for the 2012 and 2013 financial years, on stronger contributions from the automotive sector.
In
a research note today, Maybank Investment said currently, the sales for
Toyota and Perodua had respectively accounted for 56 per cent and 49
per cent of its full year forecast.
"We expect a stronger performance for the second half of this year, aided by new launches.
"Our
2012 total industry volume (TIV) forecast is raised by eight per cent
to 100,200 units for Toyota while our TIV forecast for Perodua remained
at 188,000," the research house said.
Furthermore, Maybank
Investment viewed UMW Holdings' move to focus on its upstream oil and
gas business positively, with the potential doubling of its jack-up rig
fleet to four, from two at present.
The research house
maintained its 'buy' call on the group, with an upgraded target price
of RM11.45, from RM9.55 previously. -- Bernama
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