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NewsMaybank IB Research maintains Buy on Kossan, ups target price to RM4.40
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Maybank IB Research maintains Buy on Kossan, ups target price to RM4.40
by hlk Thu 25 Apr 2013, 10:21
Business & Markets 2013
Written by theedgemalaysia.com
Thursday, 25 April 2013 08:57
A + / A - / Reset
KUALA LUMPUR (April 25): Maybank IB Research has maintained its
Buy rating on Kossan Rubber Industries Bhd at RM3.80 with a higher
target price of RM4.40 (from RM4) and said that having
underperformed its peers in 2012, Kossan's share price had risen 13%
year-to-date (YTD), outperforming peers by 5 percentage points YTD.
In a note Thursday, the research house said it believed Kossan’s share
price performance would continue to be supported by falling rubber
prices, along with a more assertive growth strategy and dividend
payout.
“Our FY13/14/15 EPS forecasts are raised by 6%/ 10%/9% on
assumptions of stronger sales and better margins.
“Maintain Buy with a higher target price of RM4.40 (+10%) on an
unchanged target FY14 PER of 10x,” it said.
Written by theedgemalaysia.com
Thursday, 25 April 2013 08:57
A + / A - / Reset
KUALA LUMPUR (April 25): Maybank IB Research has maintained its
Buy rating on Kossan Rubber Industries Bhd at RM3.80 with a higher
target price of RM4.40 (from RM4) and said that having
underperformed its peers in 2012, Kossan's share price had risen 13%
year-to-date (YTD), outperforming peers by 5 percentage points YTD.
In a note Thursday, the research house said it believed Kossan’s share
price performance would continue to be supported by falling rubber
prices, along with a more assertive growth strategy and dividend
payout.
“Our FY13/14/15 EPS forecasts are raised by 6%/ 10%/9% on
assumptions of stronger sales and better margins.
“Maintain Buy with a higher target price of RM4.40 (+10%) on an
unchanged target FY14 PER of 10x,” it said.
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