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NewsMaybank IB Research maintains Hold on Gas Malaysia, target price RM2.90
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Maybank IB Research maintains Hold on Gas Malaysia, target price RM2.90
by Cals Fri 02 Aug 2013, 09:58
Maybank IB Research maintains Hold on Gas Malaysia, target price RM2.90
Business & Markets 2013
Written by theedgemalaysia.com
Friday, 02 August 2013 09:30
KUALA LUMPUR (Aug 2): Maybank IB Research has maintained its Hold rating on Gas Malaysia Bhd at RM3.22 with a target price of RM2.90 and said the company’s core 1H13 earnings of RM85 million (+21% y-o-y) made up 48% of the research house’s and consensus full-year forecasts.
Gas Malaysia declared an interim single-tier dividend per share (DPS) of 6 sen (43% of our DPS estimates).
In a note Friday, the research house said it anticipates a stronger 2H13 performance, driven by higher sales of natural gas as LNG regasification supplies kick in.
“Our earnings and DPS forecasts are unchanged.
“While Gas Malaysia is notable for its strong cash-generating capacity and dividend disbursements, most of the positives have been priced in. Maintain Hold call and RM2.90 DCF-based target price,” it said.
Business & Markets 2013
Written by theedgemalaysia.com
Friday, 02 August 2013 09:30
KUALA LUMPUR (Aug 2): Maybank IB Research has maintained its Hold rating on Gas Malaysia Bhd at RM3.22 with a target price of RM2.90 and said the company’s core 1H13 earnings of RM85 million (+21% y-o-y) made up 48% of the research house’s and consensus full-year forecasts.
Gas Malaysia declared an interim single-tier dividend per share (DPS) of 6 sen (43% of our DPS estimates).
In a note Friday, the research house said it anticipates a stronger 2H13 performance, driven by higher sales of natural gas as LNG regasification supplies kick in.
“Our earnings and DPS forecasts are unchanged.
“While Gas Malaysia is notable for its strong cash-generating capacity and dividend disbursements, most of the positives have been priced in. Maintain Hold call and RM2.90 DCF-based target price,” it said.
Cals- Administrator
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