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Highlight CIMB Research upgrades Supermax to Add, raises target to RM5

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Highlight CIMB Research upgrades Supermax to Add, raises target to RM5

Post by Cals Wed 20 Jan 2016, 18:11

Highlight

[size=28]CIMB Research upgrades Supermax to Add, raises target to RM5

By theedgemarkets.com / theedgemarkets.com | January 20, 2016 : 9:13 AM MYT

KUALA LUMPUR (Jan 20): CIMB Research has upgraded Supermax Corporation Bhd ([You must be registered and logged in to see this image.] Valuation: 0.50, Fundamental: 1.00) to “Add” at RM3.39 with a higher target price of RM5 (from RM2.95) and said it was positively surprised by developments in the contact lens division.

In a note today, the research house said it was encouraged that it has finally resolved the utilities issues at Plants 10 & 11.

“Supermax is in the midst of expansion to add 5.6 billion capacity by end-FY16.

“Upgrade Supermax to Add with a RM5.00 target price, based on 18.4x CY17 P/E.

“Stronger earnings performance, better capacity delivery and higher contact lens contribution are potential re-rating catalysts for the stock,” it said.

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Cals: Administrator; Posts : 25277 Credits : 57721 Reputation : 1766
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