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BIMB Securities starts coverage on Freight Management, target price RM1.72

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BIMB Securities starts coverage on Freight Management, target price RM1.72 Empty BIMB Securities starts coverage on Freight Management, target price RM1.72

Post by Cals Fri 08 Aug 2014, 17:27

BIMB Securities starts coverage on Freight Management, target price RM1.72
Business & Markets 2014
Written by theedgemalaysia.com   
Friday, 08 August 2014 08:49

KUALA LUMPUR (Aug 8): BIMB Securities Research has initiated coverage on Freight Management Holdings Bhd (FMH) at RM1.68 with a Neutral rating and target price of RM1.72.
In a note Friday, the research house said FMH had envisioned in becoming a one stop centre for logistics services encompassing sea, land, air, rail, tug & barge, 3PL & warehousing, customs brokerage, and haulage.
BIMB Securities said FMH was expanding its vendors and clientele base to improve its market share within the Malaysia’s fragmented logistics industry that is worth around RM140 billion.
“Apart from the essentials, FMH is offering a host of other value added services along the value chain with the hope to fortify its presence in the industry.
“We initiate coverage on FMH with a target price of RM1.72 based on the weighted average regional PER of 10x for companies with similar market capitalization. Neutral recommendation,” it said.
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