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Results Preview RHB Research maintains Buy on Berjaya Auto, raises fair value to RM3.20

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Results Preview RHB Research maintains Buy on Berjaya Auto, raises fair value to RM3.20 Empty Results Preview RHB Research maintains Buy on Berjaya Auto, raises fair value to RM3.20

Post by Cals Wed 11 Jun 2014, 01:52

Results Preview RHB Research maintains Buy on Berjaya Auto, raises fair value to RM3.20
Business & Markets 2014
Written by theedgemalaysia.com   
Tuesday, 10 June 2014 08:11

KUALA LUMPUR (June 10): RHB Research has maintained its Buy rating on Berjaya Auto Bhd at RM2.18 with a higher fair value (FV) of RM3.20 (from RM2.55) and said it was upbeat on Berjaya Auto’s 4QFY14 results, which are scheduled to be announced on 11 June.

In a note Tuesday, the research house said it expects Berjaya Auto to register earnings of RM48 million, along with record-high margins for the quarter.

“Going forward, the aggressive expansion of its model line-up and completely-knocked-down (CKD) operations will fuel growth.

“Buy, with a new FV of RM3.20 (from RM2.55), based on a 12.5x CY15F P/E (from 11.5x),” it said.
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