Bursa Alert
Global Market
NewsHot Stock AMMB climbs 2%, 4Q results within expectations
Page 1 of 1
Hot Stock AMMB climbs 2%, 4Q results within expectations
by Cals Fri 17 May 2013, 15:49
Hot Stock AMMB climbs 2%, 4Q results within expectations
Business & Markets 2013
Written by Kamarul Anwar of theedgemalaysia.com
Friday, 17 May 2013 15:44
A + / A - / Reset
KUALA LUMPUR (May 17): AMMB HOLDINGS BHD [] rose over 2% today after the financial services provider announced its fourth quarter results which met analysts’ expectations.
At 3:04pm, AMMB shares were traded nine sen or 1.26% higher at RM7.24. A total of 3.46 million shares changed hands.
The counter had traded between RM7.18 and RM7.30 earlier.
Bloomberg data shows that of the 10 analysts covering AMMB, five have “buy” recommendations for the stock.
Three research houses issued “hold” calls while two have “sell” recommendations.
In a note today, RHB Research analyst David Chong said AMMB’s net profit of RM406 million for the fourth quarter ended March 31, 2013 (4QFY13) was within the research house's and street estimates.
The 4QFY13 profit was 25% higher than the RM325.3 million achieved a year earlier.
Chong has maintained his “buy” call on AMMB and revised upward the target price for the stock by 75 sen or 9.87% to RM8.35.
“(AMMB’s share) valuations are, in our view, still attractive despite the recent run-up in share price and thus, we are maintaining our "buy" recommendation.
"AMMB is one of our top picks for the sector,” he said.
Other analysts have voiced their concern on AMMB's profitability.
CIMB Research analyst Winson Ng said while AMMB is trading below the sector’s average price-earnings ratio (PER), the research firm does not advise investors to accumulate AMMB shares "as we are concerned about further margin contraction and a possible increase in credit costs”.
According to Ng, AMMB is trading at a core PER of 12 times against the industry’s average of 12.9 times for this year.
For calendar year 2014, AMMB trades at a core PER of 10.7 times against the sector average of 11.5 times.
Ng thinks AMMB’s net interest margin is still under pressure and may be compressed by 10 to 20 basis points in FY14.
“There could also be an upturn in credit costs in FY14 due to smaller write-backs,” he said.
Business & Markets 2013
Written by Kamarul Anwar of theedgemalaysia.com
Friday, 17 May 2013 15:44
A + / A - / Reset
KUALA LUMPUR (May 17): AMMB HOLDINGS BHD [] rose over 2% today after the financial services provider announced its fourth quarter results which met analysts’ expectations.
At 3:04pm, AMMB shares were traded nine sen or 1.26% higher at RM7.24. A total of 3.46 million shares changed hands.
The counter had traded between RM7.18 and RM7.30 earlier.
Bloomberg data shows that of the 10 analysts covering AMMB, five have “buy” recommendations for the stock.
Three research houses issued “hold” calls while two have “sell” recommendations.
In a note today, RHB Research analyst David Chong said AMMB’s net profit of RM406 million for the fourth quarter ended March 31, 2013 (4QFY13) was within the research house's and street estimates.
The 4QFY13 profit was 25% higher than the RM325.3 million achieved a year earlier.
Chong has maintained his “buy” call on AMMB and revised upward the target price for the stock by 75 sen or 9.87% to RM8.35.
“(AMMB’s share) valuations are, in our view, still attractive despite the recent run-up in share price and thus, we are maintaining our "buy" recommendation.
"AMMB is one of our top picks for the sector,” he said.
Other analysts have voiced their concern on AMMB's profitability.
CIMB Research analyst Winson Ng said while AMMB is trading below the sector’s average price-earnings ratio (PER), the research firm does not advise investors to accumulate AMMB shares "as we are concerned about further margin contraction and a possible increase in credit costs”.
According to Ng, AMMB is trading at a core PER of 12 times against the industry’s average of 12.9 times for this year.
For calendar year 2014, AMMB trades at a core PER of 10.7 times against the sector average of 11.5 times.
Ng thinks AMMB’s net interest margin is still under pressure and may be compressed by 10 to 20 basis points in FY14.
“There could also be an upturn in credit costs in FY14 due to smaller write-backs,” he said.
Cals- Administrator
- Posts : 25277 Credits : 57721 Reputation : 1766
Join date : 2011-09-08
Location : global
Comments : “My plan of trading was sound enough and won oftener that it lost. If I had stuck to it Iâ€
d have been right perhaps as often as seven out of ten times.â€
Stock Exposure : Technical Analysis / Fundamental Analysis / Mental Analysis
Similar topics» Highlight AMMB 3Q profit rises 6.8% y-o-y; 9-month results within expectations
» AMMB climbs 2.6pc, highest since Nov 29
» UMW-OG’s 3Q results below expectations
» S P Setia’s 1Q results below expectations
» Top Glove’s 2Q results may be below expectations
» AMMB climbs 2.6pc, highest since Nov 29
» UMW-OG’s 3Q results below expectations
» S P Setia’s 1Q results below expectations
» Top Glove’s 2Q results may be below expectations
Page 1 of 1
Permissions in this forum:
You cannot reply to topics in this forum