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Hot Stock Supermax gains 1.47% after upgrade by CIMB Research
by Cals Wed 20 Jan 2016, 18:13
- Hot Stock
[size=28]Supermax gains 1.47% after upgrade by CIMB Research
By Surin Murugiah / theedgemarkets.com | January 20, 2016 : 11:29 AM MYTKUALA LUMPUR (Jan 20): Shares of Supermax Corporation Bhd ([You must be registered and logged in to see this image.] Valuation: 0.50, Fundamental: 1.00) rose 1.47% in late morning trade today, after CIMB Research upgraded the stock 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.
At 11am, Supermax added 5 sen to RM344, with 7.01 million shares done.
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.
(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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