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Hot Stock Inari falls 2.92% on weaker 3Q earnings outlook
by Cals Wed 04 May 2016, 21:29
- Hot Stock
[size=28]Inari falls 2.92% on weaker 3Q earnings outlook
By Surin Murugiah / theedgemarkets.com | May 4, 2016 : 9:36 AM MYTKUALA LUMPUR (May 4): Inari Amertron Bhd shares fell 2.92% in early trade today after AffinHwang Capital Research maintained its “Buy” rating on Inari Amertron Bhd with a lower target price of RM3.54 (from RM4.12) and said it expects Inari to report a weak set of 3QFY16 earnings on May 18 as inventory continues to be worn down and on concerns over a lacklustre new model later this year.
At 9.16am, Inari fell 8 sen to RM2.66 with 413, 300 shares done.
In a note today, the research house said in view of this it cut its FY16-18E EPS for Inari by 27-30%.
“We lower our targer price to RM3.54 on the EPS cut but we roll forward our valuation horizon to 2017.
“Still a Buy despite an earnings blip as RF and fibre optic prospects remains exciting,” it said.
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