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NewsBIMB Securities starts coverage on Berjaya Auto, target price RM2.89
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BIMB Securities starts coverage on Berjaya Auto, target price RM2.89
by Cals Thu 10 Dec 2015, 21:52
BIMB Securities starts coverage on Berjaya Auto, target price RM2.89
By theedgemarkets.com / theedgemarkets.com | December 10, 2015 : 8:59 AM MYTKUALA LUMPUR (Dec 10): [size=16]BIMB Securities Research has initiated coverage on Berjaya Auto Bhd (BAuto) with a “Buy” rating at RM2.15 with a target price of RM2.89 and said Mazda is revving up market demand for its line of new vehicles and registered an impressive 6-year CAGR of 54.8%.
In a note today, the research house said that on top of that, BAuto declared an impressive dividend yield of 6.8% for FY15, far outpacing its counterparts.
“We kick start our coverage on BAuto with a target price of RM2.89 based on Sector P/E of 14.7x on FY16 Figures.
“Buy recommendation,” it said.
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