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NewsCIMB Research starts coverage on Ta Ann as Trading Buy, target price RM4.67
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CIMB Research starts coverage on Ta Ann as Trading Buy, target price RM4.67
by Cals Tue 16 Jul 2013, 10:16
CIMB Research starts coverage on Ta Ann as Trading Buy, target price RM4.67
Business & Markets 2013
Written by theedgemalaysia.com
Tuesday, 16 July 2013 09:22
KUALA LUMPUR (July 16): CIMB Research has started coverage on TA ANN HOLDINGS BHD [] at RM3.95 with a Trading Buy rating and target price RM4.67, and said the company started off as a timber company but has since diversified into oil palm.
In a note Tuesday, the research house said while oil palm was currently the largest profit contributor, one should not overlook the potential of Ta Ann’s timber business which could see stronger earnings as CIMB Research expects timber prices to head higher.
“We begin coverage on the stock with a Trading Buy call and a target price of RM4.67, based on an SOP valuation.
“The stock is not an Outperform as we expect it to be rerated only in the short term, driven by rising timber prices. Rerating catalysts could come in the form of stronger timber earnings in the coming quarters,” it said.
Business & Markets 2013
Written by theedgemalaysia.com
Tuesday, 16 July 2013 09:22
KUALA LUMPUR (July 16): CIMB Research has started coverage on TA ANN HOLDINGS BHD [] at RM3.95 with a Trading Buy rating and target price RM4.67, and said the company started off as a timber company but has since diversified into oil palm.
In a note Tuesday, the research house said while oil palm was currently the largest profit contributor, one should not overlook the potential of Ta Ann’s timber business which could see stronger earnings as CIMB Research expects timber prices to head higher.
“We begin coverage on the stock with a Trading Buy call and a target price of RM4.67, based on an SOP valuation.
“The stock is not an Outperform as we expect it to be rerated only in the short term, driven by rising timber prices. Rerating catalysts could come in the form of stronger timber earnings in the coming quarters,” it said.
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