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RHB Research maintains Sell on GAB, lowers fair value

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RHB Research maintains Sell on GAB, lowers fair value Empty RHB Research maintains Sell on GAB, lowers fair value

Post by Cals Mon 12 May 2014, 11:03

RHB Research maintains Sell on GAB, lowers fair value
Business & Markets 2014
Written by theedgemalaysia.com   
Monday, 12 May 2014 08:06

KUALA LUMPUR (May 12): RHB Research has maintained its Sell rating on Guinness Anchor Bhd (GAB) with a lower fair value (FV) of RM12.80 (from RM13.50) and said GAB’s 9MFY14 results came in slightly below house and consensus expectations.
In a note Monday, the research house said it cut GAB's FY14/15 earnings estimates by 12.8%, continuing to anticipate a challenging 2014 for the brewers, as consumers were turning more cautious in their spending habits.
“We maintain our Sell call with a lower FV of RM12.80 (from RM13.50) as we roll over our DCF-model valuation horizon to FY15,” it said.
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