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RHB Research maintains Sell on Notion VTec, cuts fair value to 46 sen

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RHB Research maintains Sell on Notion VTec, cuts fair value to 46 sen Empty RHB Research maintains Sell on Notion VTec, cuts fair value to 46 sen

Post by Cals Fri 16 May 2014, 17:37

RHB Research maintains Sell on Notion VTec, cuts fair value to 46 sen
Business & Markets 2014
Written by theedgemalaysia.com   
Friday, 16 May 2014 07:54

KUALA LUMPUR (May 16): RHB Research has maintained its Sell rating on Notion VTec Bhd with a lower fair value (FV) of 46 sen (from 58 sen) and said Notion’s 1HFY14 core loss of RM14.2 million was below expectations, on continued weakness in both its hard disk drive (HDD) and camera segments.

In a note Friday, the research house said given the disappointing results, it was slashing Notion’s FY14/15 earnings forecasts by 51.0%/50.4%.

“Correspondingly, our FV is lowered to 46 sen (from 58 sen).

“Given the bleak outlook for the HDD and camera markets, we are maintaining our Sell recommendation,” it said.  
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