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Alliance IB Research starts coverage on Brahims, target price RM1.94

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Alliance IB Research starts coverage on Brahims, target price RM1.94 Empty Alliance IB Research starts coverage on Brahims, target price RM1.94

Post by Cals Mon 21 Oct 2013, 09:49

Alliance IB Research starts coverage on Brahims, target price RM1.94
Business & Markets 2013
Written by theedgemalaysia.com   
Monday, 21 October 2013 08:59
KUALA LUMPUR (Oct 21): Alliance IB Research has started coverage on Brahim's Holdings at RM1.48 with a Strong Buy rating and target price of RM1.94 and said the company was a prime proxy to ride on the Visit Malaysia 2014 theme.

In a note Monday, the research house said the resulting uplift in passenger traffic would drive the demand for its in-flight catering and cabin handling services.

Meanwhile, the completion of klia2 will significantly increase its F&B floor space at KLIA, thereby driving its F&B earnings, it said.

“In addition, we expect the group’s foray into sugar refinery business in East Malaysia to provide a long-term growth avenue for the group.

“We are initiating coverage on Brahim’s with a Strong Buy call and a target price of RM1.94, based on 19x FY14 P/E and supported by a 3-year earnings CAGR of 56.8%,” said Alliance IB Research.
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