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NewsRHB Research maintains Buy on Maybulk, trims fair value to RM2.17
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RHB Research maintains Buy on Maybulk, trims fair value to RM2.17
by Cals Tue 22 Jul 2014, 01:26
RHB Research maintains Buy on Maybulk, trims fair value to RM2.17
Business & Markets 2014
Written by theedgemalaysia.com
Monday, 21 July 2014 10:49
KUALA LUMPUR (July 21): RHB Research has maintained its Buy rating on Malaysian Bulk Carriers Bhd at RM1.90 with a lower fair value (FV) of RM2.17 (from RM2.48) and said the much anticipated recovery in dry bulk freight rates failed to materialise in 1H14.
In a note Monday, the research house the daily Baltic Dry Index average was down by 29% q-o-q in the 2Q2014, thus suggesting that earnings for 2Q could end up weaker q-o-q.
“We lower our FY14/FY15 estimates by 22%/6% respectively. The earnings cut is attributed to lower time charter earnings assumptions.
“As such we reduce our FV to RM2.17 (from RM2.48). Maintain Buy,” it said.
Business & Markets 2014
Written by theedgemalaysia.com
Monday, 21 July 2014 10:49
KUALA LUMPUR (July 21): RHB Research has maintained its Buy rating on Malaysian Bulk Carriers Bhd at RM1.90 with a lower fair value (FV) of RM2.17 (from RM2.48) and said the much anticipated recovery in dry bulk freight rates failed to materialise in 1H14.
In a note Monday, the research house the daily Baltic Dry Index average was down by 29% q-o-q in the 2Q2014, thus suggesting that earnings for 2Q could end up weaker q-o-q.
“We lower our FY14/FY15 estimates by 22%/6% respectively. The earnings cut is attributed to lower time charter earnings assumptions.
“As such we reduce our FV to RM2.17 (from RM2.48). Maintain Buy,” it said.
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