Bursa Alert
Global Market
NewsHot Stock Westports up 1.25% on upgrade, 1H15 net profit
Page 1 of 1
Hot Stock Westports up 1.25% on upgrade, 1H15 net profit
by Cals Mon 03 Aug 2015, 21:50
Hot Stock
Westports up 1.25% on upgrade, 1H15 net profit
KUALA LUMPUR (Aug 3): Shares of Westports Holdings Bhd ([You must be registered and logged in to see this image.] Financial Dashboard) rose in early trade today after BIMB Securities Research has upgraded the stock to “Buy” at RM4.01 with a target price of RM4.68 and said Westports’ 1HFY15 net income of RM242.3 million was within house and consensus expectations, making up 42% of house and 41% of consensus estimates respectively.
At 9.25am, the stock rose 1.25% or five sen to RM4.06 with 67,000 shares done.
In a note today, the research house said Westports’ 2Q earnings improved quarter-on-quarter but declined slightly on year-on-year basis, still affected by the higher effective tax rate of 24.7%, however the impact was negated by the improvement in its gross profit margin.
“We are rolling our valuation to FY16, hence, our latest target price of RM4.68 premised on the weighted average regional PER of 26x over FY16 EPS.
“Upgrade to Buy,” it said.
Westports up 1.25% on upgrade, 1H15 net profit
KUALA LUMPUR (Aug 3): Shares of Westports Holdings Bhd ([You must be registered and logged in to see this image.] Financial Dashboard) rose in early trade today after BIMB Securities Research has upgraded the stock to “Buy” at RM4.01 with a target price of RM4.68 and said Westports’ 1HFY15 net income of RM242.3 million was within house and consensus expectations, making up 42% of house and 41% of consensus estimates respectively.
At 9.25am, the stock rose 1.25% or five sen to RM4.06 with 67,000 shares done.
In a note today, the research house said Westports’ 2Q earnings improved quarter-on-quarter but declined slightly on year-on-year basis, still affected by the higher effective tax rate of 24.7%, however the impact was negated by the improvement in its gross profit margin.
“We are rolling our valuation to FY16, hence, our latest target price of RM4.68 premised on the weighted average regional PER of 26x over FY16 EPS.
“Upgrade to Buy,” it said.
Cals- Administrator
- Posts : 25277 Credits : 57721 Reputation : 1766
Join date : 2011-09-08
Location : global
Comments : “My plan of trading was sound enough and won oftener that it lost. If I had stuck to it Iâ€
d have been right perhaps as often as seven out of ten times.â€
Stock Exposure : Technical Analysis / Fundamental Analysis / Mental Analysis
Similar topics» Hot Stock Westports sheds 6% on profit taking, downgrade
» Stock Focus Westports on track for 20% profit growth
» Westports 3Q net profit surges 33% on higher container volume
» Hot Stock Westports up on 3Q results, analysts upgrades
» Stock Watch Westports flat due to P3 overhang
» Stock Focus Westports on track for 20% profit growth
» Westports 3Q net profit surges 33% on higher container volume
» Hot Stock Westports up on 3Q results, analysts upgrades
» Stock Watch Westports flat due to P3 overhang
Page 1 of 1
Permissions in this forum:
You cannot reply to topics in this forum