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NewsMaybank IB Research maintains Buy on Bursa, raises target price to RM8
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Maybank IB Research maintains Buy on Bursa, raises target price to RM8
by Cals Fri 19 Apr 2013, 09:18
Maybank IB Research maintains Buy on Bursa, raises target price to RM8
Business & Markets 2013
Written by theedgemalaysia.com
Friday, 19 April 2013 08:29
A + / A - / Reset
KUALA LUMPUR (April 19): Maybank IB Research has maintained Buy on BURSA MALAYSIA BHD [] at RM7.18 with a higher target price (TP) of RM8 (from RM7.40), and said the company’s 1Q13 net profit of RM38 million was in line, at 22% of the research house’s and street’s full-year forecasts.
In a note Friday, the research house said it expects higher trading volume ahead and maintained it forecasts for FY13-15.
“On expectations of improved volatility ahead, we peg a higher 25x PER target (23x previously) on FY13 earnings, deriving a new TP of RM8.00 (+8%).
“We continue to peg Bursa at a discount to our target 29x for SGX,” it said.
Business & Markets 2013
Written by theedgemalaysia.com
Friday, 19 April 2013 08:29
A + / A - / Reset
KUALA LUMPUR (April 19): Maybank IB Research has maintained Buy on BURSA MALAYSIA BHD [] at RM7.18 with a higher target price (TP) of RM8 (from RM7.40), and said the company’s 1Q13 net profit of RM38 million was in line, at 22% of the research house’s and street’s full-year forecasts.
In a note Friday, the research house said it expects higher trading volume ahead and maintained it forecasts for FY13-15.
“On expectations of improved volatility ahead, we peg a higher 25x PER target (23x previously) on FY13 earnings, deriving a new TP of RM8.00 (+8%).
“We continue to peg Bursa at a discount to our target 29x for SGX,” it said.
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