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NewsCIMB Research starts coverage of HELP, TP of RM2.25
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CIMB Research starts coverage of HELP, TP of RM2.25
by hlk Wed 06 Jun 2012, 13:18
KUALA LUMPUR: CIMB
Equities Research said the market appears to have a knowledge gap of
the strong asset base of HELP International, a major player in private
sector higher education.
It said on Wednesday that HELP's
properties and land are worth close to its current share price, which
means that investors are getting its education business for free.
“The
group's long-term earnings outlook is exciting given the new
international school and Subang 2 campus. The stock is trading at an
undeserved 40% discount to its RNAV. We begin coverage with an
Outperform call.
“Our target price is based on a 20% discount to
its RNAV in view of its small market cap and poor trading liquidity,”
CIMB Research said.
Equities Research said the market appears to have a knowledge gap of
the strong asset base of HELP International, a major player in private
sector higher education.
It said on Wednesday that HELP's
properties and land are worth close to its current share price, which
means that investors are getting its education business for free.
“The
group's long-term earnings outlook is exciting given the new
international school and Subang 2 campus. The stock is trading at an
undeserved 40% discount to its RNAV. We begin coverage with an
Outperform call.
“Our target price is based on a 20% discount to
its RNAV in view of its small market cap and poor trading liquidity,”
CIMB Research said.
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