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RHB Research maintains Neutral on CBIP, trims fair value to RM4.95

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RHB Research maintains Neutral on CBIP, trims fair value to RM4.95 Empty RHB Research maintains Neutral on CBIP, trims fair value to RM4.95

Post by Cals Mon 02 Jun 2014, 23:55

RHB Research maintains Neutral on CBIP, trims fair value to RM4.95
Business & Markets 2014
Written by theedgemalaysia.com   
Monday, 02 June 2014 08:08+

KUALA LUMPUR (June 2): RHB Research has maintained its Neutral rating on CB Industrial Product Holdings Bhd with a lower fair value of RM4.95 (from RM5) and said CBIP’s 1QFY14 results were in line.

In a note Monday, the research house said it was lowering its forecasts slightly to account for higher start-up losses at CBIP’s plantation division in Indonesia.

“Post-earnings revision and rollover of our valuation period to CY15 (from CY14), we tweak our SOP-based fair value to RM4.95 (from RM5.00).  

“Although we continue to be positive on CBIP’s prospects, we believe valuations are fair at these levels. Maintain Neutral,” it said.
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