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Hot Stock Uzma rises 3.16% on firmer 2Q earnings
by Cals Tue 25 Aug 2015, 22:14
Hot Stock
Uzma rises 3.16% on firmer 2Q earnings
KUALA LUMPUR (Aug 25): Shares of Uzma Bhd ([You must be registered and logged in to see this image.] Financial Dashboard) rose 3.16% early today after the company reported 2Q core net profit of RM11.9 million bringing 1H15 core net profit to RM25.1 million.
At 9.26am, Uzma roe five sen to RM1.63 with 36,200 shares done.
BIMB Secutities upgraded the stock to a “Buy” at RM1.58 with a higher target price of RM2.55 and said Uzma’s 2Q results accounted for 43% and 45% of both house and consensus estimate.
“Our core net profit has excluded unrealized forex loss of RM7.8 million.
“We deemed results to be in line as we are expecting earnings to pick up at 4Q with maiden RSC contribution.
“We tweaked our FY15-16 figures slightly lower by 4% and 2% respectively with our target price revised to RM2.55 as we roll forward our valuation. Upgrade to Buy,” it said.
Uzma rises 3.16% on firmer 2Q earnings
KUALA LUMPUR (Aug 25): Shares of Uzma Bhd ([You must be registered and logged in to see this image.] Financial Dashboard) rose 3.16% early today after the company reported 2Q core net profit of RM11.9 million bringing 1H15 core net profit to RM25.1 million.
At 9.26am, Uzma roe five sen to RM1.63 with 36,200 shares done.
BIMB Secutities upgraded the stock to a “Buy” at RM1.58 with a higher target price of RM2.55 and said Uzma’s 2Q results accounted for 43% and 45% of both house and consensus estimate.
“Our core net profit has excluded unrealized forex loss of RM7.8 million.
“We deemed results to be in line as we are expecting earnings to pick up at 4Q with maiden RSC contribution.
“We tweaked our FY15-16 figures slightly lower by 4% and 2% respectively with our target price revised to RM2.55 as we roll forward our valuation. Upgrade to Buy,” it said.
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