Hot Stock Inari gains 2.82% on target price upgrade by AffinHwang
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Hot Stock Inari gains 2.82% on target price upgrade by AffinHwang
[size=28]Inari gains 2.82% on target price upgrade by AffinHwang[/size]
By Surin Murugiah / theedgemarkets.com | December 15, 2015 : 9:58 AM MYT
KUALA LUMPUR (Dec 15): Shares of [size=16]Inari Amertron Bhd ([You must be registered and logged in to see this image.] Valuation: 1.50, Fundamental: 3.00) rose 2.82% this morning after AffinHwang Capital Research maintained its "buy" rating on Inari at RM4.26 with a higher target price of RM5.15 (from RM4.28) and said it expects Inari's share price outperformance to continue in 2016 as organic growth resumes.
At 9.38am, Inari rose 12 sen to RM4.38 with 69,900 shares done.
In a note today, the research house said that with rising contribution from its profitable RF division and potential spillover effects from further outsourcing opportunities, prospects for a re-rating are high, in its view.
"Reaffirm 'buy' with a higher target price of RM5.15.
"If we roll over our valuation basis to CY17E, our fair value rises to RM6.33. A top country pick for 2016," it said.
(Note: The Edge Research's fundamental score reflects a company's profitability and balance sheet strength, calculated based on historical numbers. The valuation score determines if a stock is attractively valued or not, also based on historical numbers. A score of 3 suggests strong fundamentals and attractive valuations.)
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