Stock Name: UMW
Company Name: UMW HOLDINGS BHD
Research House: AFFIN
UMW is Affin's top pick in the automotive sector as Affin believes earnings may surprise on the upside given UMW's aggressive O&G expansion, bright prospects and management prowess.
Affin rates UMW an "add" with a target price of RM7 a share.
Affin also lists key re-rating catalysts for the stock:
(1) product pipeline visibility for 51 per cent-owned UMW Toyota Motor Sdn Bhd:
(2) potential listing of the Group's O&G unit; and
(3) active capital management.
"Initial overhanging fear, at least on our part, of sharp decline in domestic Toyota car sales given the massive global Toyota car recalls have been proven unfounded," Affin said.
Company Name: UMW HOLDINGS BHD
Research House: AFFIN
UMW is Affin's top pick in the automotive sector as Affin believes earnings may surprise on the upside given UMW's aggressive O&G expansion, bright prospects and management prowess.
Affin rates UMW an "add" with a target price of RM7 a share.
Affin also lists key re-rating catalysts for the stock:
(1) product pipeline visibility for 51 per cent-owned UMW Toyota Motor Sdn Bhd:
(2) potential listing of the Group's O&G unit; and
(3) active capital management.
"Initial overhanging fear, at least on our part, of sharp decline in domestic Toyota car sales given the massive global Toyota car recalls have been proven unfounded," Affin said.
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