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RHB Research maintains Neutral on Unisem, raises fair value to RM1.22

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RHB Research maintains Neutral on Unisem, raises fair value to RM1.22 Empty RHB Research maintains Neutral on Unisem, raises fair value to RM1.22

Post by Cals Fri 09 May 2014, 20:13

RHB Research maintains Neutral on Unisem, raises fair value to RM1.22
Business & Markets 2014
Written by theedgemalaysia.com   
Friday, 09 May 2014 07:50

KUALA LUMPUR (May 9): RHB Research has maintained its Neutral rating on Unisem (M) Bhd with a higher fair value (FV) of RM1.22 (from 95 sen) and said Unisem’s 1QFY14 core loss of RM100,000 marked its narrowest loss over the past five quarters.

In a note Friday, the research house said it deemed this within expectations as RHB Research expects Unisem’s performance would continue to improve for the rest of the year, leveraging on better product mix and improved costs control.

“Maintain Neutral with our FV revised up to RM1.22 (from 95 sen) as we peg a higher CY14 P/NTA of 0.9x (from 0.7x) in anticipation that it would return to the black come 2QFY14,” it said.
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