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NewsRHB Research upgrades Tasco to Buy, raises fair value to RM3
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RHB Research upgrades Tasco to Buy, raises fair value to RM3
by Cals Wed 21 May 2014, 17:13
| RHB Research upgrades Tasco to Buy, raises fair value to RM3 |
| Business & Markets 2014 |
| Written by theedgemalaysia.com |
| Wednesday, 21 May 2014 08:04 KUALA LUMPUR (May 21): RHB Research has upgraded Tasco Bhd to a Buy (from Neutral) with a higher fair value (FV) of RM3 (from RM2.30) and said Tasco reported RM30 million core net earnings (+6.7% y-o-y) for FY14 (15 months on its FYE change to March), ie in line with house estimates. In a note Wednesday, the research house said Tasco was poised to grow, moving forwards, on the recovery in global trade. “We adjusted our earnings model accordingly to reflect the change in FYE. “Upgrade to Buy (from Neutral) with a higher RM3 FV (from MYR2.30) premised on a target P/E of 11.3x FY15 earnings,” it said. |
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