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NewsCIMB Research starts coverage on Magnum with Outperform rating, target price of RM4.38
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CIMB Research starts coverage on Magnum with Outperform rating, target price of RM4.38
by Cals Fri 05 Jul 2013, 09:31
CIMB Research starts coverage on Magnum with Outperform rating, target price of RM4.38
Business & Markets 2013
Written by theedgemalaysia.com
Friday, 05 July 2013 09:20
KUALA LUMPUR (July 5): CIMB Research starts coverage on Magnum Bhd at RM3.75 with Outperform rating and target price of RM4.38 and said that after more than three decades of restructuring and changes in ownership, Magnum, formally known as Multi Purpose Holdings, had finally completed its transformation from a debt-ridden conglomerate to a cash-generative pure gaming yield play.
In a note Friday, the research house said its DDM value includes a capital repayment of 48 sen expected in the next three months following the successful spin-off of the non-gaming assets into an IPO.
“With its key restructuring plans concluded, the catalysts for Magnum shares are industry growth and dividend payouts,” it said.
Business & Markets 2013
Written by theedgemalaysia.com
Friday, 05 July 2013 09:20
KUALA LUMPUR (July 5): CIMB Research starts coverage on Magnum Bhd at RM3.75 with Outperform rating and target price of RM4.38 and said that after more than three decades of restructuring and changes in ownership, Magnum, formally known as Multi Purpose Holdings, had finally completed its transformation from a debt-ridden conglomerate to a cash-generative pure gaming yield play.
In a note Friday, the research house said its DDM value includes a capital repayment of 48 sen expected in the next three months following the successful spin-off of the non-gaming assets into an IPO.
“With its key restructuring plans concluded, the catalysts for Magnum shares are industry growth and dividend payouts,” it said.
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