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NewsCIMB Research maintains Neutral, KLCI end-2012 target 1,650
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CIMB Research maintains Neutral, KLCI end-2012 target 1,650
by hlk Tue 04 Sep 2012, 11:14
KUALA LUMPUR: CIMB Equities Research
described the April to June corporate results as surprisingly weak,
making it the ninth straight results season that disappointed.
It
said on Tuesday the stronger-than-expected 2Q GDP growth of 5.4% failed
to translate into better corporate performance. This resulted in a cut
in EPS growth for 2012.
“We maintain our Neutral call and
end-2012 KLCI target of 1,650 which is based on an unchanged 13.3 times
CY13 P/E. We introduce our end-2013 KLCI target of 1,730pts based on an
unchanged 13.3 times P/E. General election risks remain the key
overhang, the timing of which appears likely to be later rather than
sooner,” said CIMB Research
described the April to June corporate results as surprisingly weak,
making it the ninth straight results season that disappointed.
It
said on Tuesday the stronger-than-expected 2Q GDP growth of 5.4% failed
to translate into better corporate performance. This resulted in a cut
in EPS growth for 2012.
“We maintain our Neutral call and
end-2012 KLCI target of 1,650 which is based on an unchanged 13.3 times
CY13 P/E. We introduce our end-2013 KLCI target of 1,730pts based on an
unchanged 13.3 times P/E. General election risks remain the key
overhang, the timing of which appears likely to be later rather than
sooner,” said CIMB Research
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