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BIMB Securities starts coverage on PUC Founder, target 18 sen
by Cals Fri 30 Oct 2015, 15:25
BIMB Securities starts coverage on PUC Founder, target 18 sen
By theedgemarkets.com / theedgemarkets.com | October 30, 2015 : 9:11 AM MYTKUALA LUMPUR (Oct 30): [size=16]BIMB Securities Research has initiated coverage on PUC Founder Bhd ([You must be registered and logged in to see this image.] Valuation: 1.70, Fundamental: 1.85) with a “Buy” rating at 11.5 sen and target price 18 sen.
In a note today, the research house said PUC Founder is principally engaged in three business segments namely, (i) Technology, Media and Telecommunication (TMT); (ii) E-payment Services and most recently, the company ventured into (iii) renewable energy business.
“Of the above, we envisage the renewable energy business to offer ample opportunities for PUC to grow and expect strong double digit growth in earnings over the next 3 years.
“We value PUC at 18 via our SOP methodology and initiate coverage with a Buy recommendation,” it said.
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