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RHB Research maintains Buy on Berjaya Auto, says earnings in line

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RHB Research maintains Buy on Berjaya Auto, says earnings in line Empty RHB Research maintains Buy on Berjaya Auto, says earnings in line

Post by Cals Fri 13 Jun 2014, 02:33

RHB Research maintains Buy on Berjaya Auto, says earnings in line
Business & Markets 2014
Written by theedgemalaysia.com   
Thursday, 12 June 2014 08:10

KUALA LUMPUR (June 12): RHB Research has maintained its Buy rating on Berjaya Auto Bhd at RM2.31 with a fair value of RM3.20 and said Berjaya Auto’s 2014 earnings were in line with house estimate, but comfortably exceeded consensus expectations.

In a note Thursday, the research house said Berjaya Auto’s 4QFY14 was a record quarter with earnings of RM48.1 million along with record-high margins, helped by a favourable sales mix, weaker JPY as well as a reduction in duties.

“We like Berjaya Auto, given its undemanding FY15F P/E of only 9.9x and robust 3-year earnings CAGR of 60.5%. Maintain Buy,” it said.
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