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Cuscapi at all-time high, CIMB Research ups target price
by Cals Fri 11 Oct 2013, 01:53
Published: Thursday October 10, 2013 MYT 3:48:00 PM
Updated: Thursday October 10, 2013 MYT 3:49:23 PM
Cuscapi at all-time high, CIMB Research ups target price
KUALA LUMPUR: Shares of Cuscapi Bhd rose to an all-time high of 46.5 sen in active trade as investors’ interest was perked up by CIMB Equities Research’s positive outlook for the company.
At 3.43pm, it was up 6.5 sen to 46.5 sen. Turnover was 24.99 million shares.
The FBM KLCI was up 5.9 points to 1,775.02. Turnover was 1.35 billion shares valued at nearly RM1bil. Advancers beat decliners nearly four to three with 407 gainers to 270 losers and 292 counters unchanged.
Earlier, CIMB Research raised the target price for Cuscapi from 54 sen to 70 sen and maintained an Outperform call.
It said on Thursday it was maintaining its earnings per share (EPS) but raised the target price as it rolled forward to 21 times CY15 price-to-earnings (P/E), still based on its two-year average forward P/E.
“The premium we apply over our market target is supported by our 34.7% three-year EPS,” it said
CIMB Research said the stock remained an Outperform, potentially catalysed by stronger-than-expected demand for REV -- Cuscapi’s new commercial interactive tablet --- and potential M&As.
Updated: Thursday October 10, 2013 MYT 3:49:23 PM
Cuscapi at all-time high, CIMB Research ups target price
KUALA LUMPUR: Shares of Cuscapi Bhd rose to an all-time high of 46.5 sen in active trade as investors’ interest was perked up by CIMB Equities Research’s positive outlook for the company.
At 3.43pm, it was up 6.5 sen to 46.5 sen. Turnover was 24.99 million shares.
The FBM KLCI was up 5.9 points to 1,775.02. Turnover was 1.35 billion shares valued at nearly RM1bil. Advancers beat decliners nearly four to three with 407 gainers to 270 losers and 292 counters unchanged.
Earlier, CIMB Research raised the target price for Cuscapi from 54 sen to 70 sen and maintained an Outperform call.
It said on Thursday it was maintaining its earnings per share (EPS) but raised the target price as it rolled forward to 21 times CY15 price-to-earnings (P/E), still based on its two-year average forward P/E.
“The premium we apply over our market target is supported by our 34.7% three-year EPS,” it said
CIMB Research said the stock remained an Outperform, potentially catalysed by stronger-than-expected demand for REV -- Cuscapi’s new commercial interactive tablet --- and potential M&As.
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