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Strategy 3Q15 results not too shabby, says CIMB Research
by Cals Wed 02 Dec 2015, 20:36
- Strategy
[size=28]3Q15 results not too shabby, says CIMB Research
By theedgemarkets.com / theedgemarkets.com | December 2, 2015 : 9:13 AM MYTKUALA LUMPUR (Dec 2): CIMB IB Research ([You must be registered and logged in to see this image.] Valuation: 1.65, Fundamental: 0.55) said 3Q15 corporate results were not as bad as it had feared, with the revision ratio improving from 0.47x in Aug to 0.63x in Nov, the highest since 3Q13.
In a strategy note yesterday, the research house however lowered 2015 EPS growth from 1.4% contraction to a steeper 3.6% contraction. 2016 EPS growth is also lowered from 8.8% to 7.5%.
CIMB Research maintained its FBM KLCI target of 1,700 points for end-2015 and 1,850 points for end-2016.
“We expect 2016 to be a year of recovery for the stock market.
“We continue to like the construction, utilities and smaller-cap sectors,” it said.
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