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NewsCIMB Research maintains Add on IFCA MSC, raises target price to RM1.05
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CIMB Research maintains Add on IFCA MSC, raises target price to RM1.05
by Cals Thu 06 Nov 2014, 18:35
CIMB Research maintains Add on IFCA MSC, raises target price to RM1.05
KUALA LUMPUR (Nov 6): CIMB Research has maintained its Add rating on IFCA MSC Bhd ([You must be registered and logged in to see this image.] Financial Dashboard) at 70 sen with a higher target price of RM1.05 (from 78 sen) and said the 3Q14 net profit was a record high for IFCA.
In a note Nov 5, the research house said that at 178% annualized 9M14 net profit, IFCA’s 3Q results was above house (no consensus) expectations due to higher-than-expected top-line growth.
“We raise our FY14-16 EPS by 36%-100% to reflect stronger top-line growth and target price also rises based on unchanged 21x 2016 P/E(in line with domestic peers).
“The stock remains an Add with potential catalysts such as record 3Q14 net profit and move to Main Board in 2015,” it said.
KUALA LUMPUR (Nov 6): CIMB Research has maintained its Add rating on IFCA MSC Bhd ([You must be registered and logged in to see this image.] Financial Dashboard) at 70 sen with a higher target price of RM1.05 (from 78 sen) and said the 3Q14 net profit was a record high for IFCA.
In a note Nov 5, the research house said that at 178% annualized 9M14 net profit, IFCA’s 3Q results was above house (no consensus) expectations due to higher-than-expected top-line growth.
“We raise our FY14-16 EPS by 36%-100% to reflect stronger top-line growth and target price also rises based on unchanged 21x 2016 P/E(in line with domestic peers).
“The stock remains an Add with potential catalysts such as record 3Q14 net profit and move to Main Board in 2015,” it said.
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