Bursa Alert
Global Market
NewsAlliance IB Research maintains Sell on Felda Global, target price RM3.43
Page 1 of 1
Alliance IB Research maintains Sell on Felda Global, target price RM3.43
by Cals Fri 19 Jul 2013, 10:59
Alliance IB Research maintains Sell on Felda Global, target price RM3.43
Business & Markets 2013
Written by theedgemalaysia.com
Friday, 19 July 2013 09:55
KUALA LUMPUR (July 19): Alliance Research has maintained its sell rating on Felda Global Ventures Holdings Bhd (FGVH) at RM4.51 with a target price of RM3.43 and said the was continuing its acquisition trail, this time a take-over offer for Pontian United PLANTATION []s which has 40,000ha of palm oil plantations in Sabah.
In a note Friday, the research house said it was neutral on the acquisition for now as the transaction P/E appears expensive at 30.6x and planting statistics on Pontian were unavailable.
“That said, assuming its fully matured hectarage, it would add 11% to FGVH total hectarage and based on historical earnings, contribute some 6% to FGV’s earnings.
“Maintain Sell as the stock trades ahead of its peers despite there being no major earnings catalyst in the near term,” it said.
Business & Markets 2013
Written by theedgemalaysia.com
Friday, 19 July 2013 09:55
KUALA LUMPUR (July 19): Alliance Research has maintained its sell rating on Felda Global Ventures Holdings Bhd (FGVH) at RM4.51 with a target price of RM3.43 and said the was continuing its acquisition trail, this time a take-over offer for Pontian United PLANTATION []s which has 40,000ha of palm oil plantations in Sabah.
In a note Friday, the research house said it was neutral on the acquisition for now as the transaction P/E appears expensive at 30.6x and planting statistics on Pontian were unavailable.
“That said, assuming its fully matured hectarage, it would add 11% to FGVH total hectarage and based on historical earnings, contribute some 6% to FGV’s earnings.
“Maintain Sell as the stock trades ahead of its peers despite there being no major earnings catalyst in the near term,” it 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» CIMB Research maintains Neutral on Felda Global, target price RM4.50
» MIDF Research upgrades Felda Global to Buy, raises target price
» Affin IB Research downgrades Felda Global to Add, cuts target price to RM5.16
» Maybank IB Research maintains Sell on AirAsia X, ups target price to 60 sen
» MIDF Research maintains Sell on Kinsteel, cuts target price to 16 sen
» MIDF Research upgrades Felda Global to Buy, raises target price
» Affin IB Research downgrades Felda Global to Add, cuts target price to RM5.16
» Maybank IB Research maintains Sell on AirAsia X, ups target price to 60 sen
» MIDF Research maintains Sell on Kinsteel, cuts target price to 16 sen
Page 1 of 1
Permissions in this forum:
You cannot reply to topics in this forum