Stock Name: BIPORT
Company Name: BINTULU PORT HOLDINGS BHD
Research House: OSK
KUALA LUMPUR: OSK Research has maintained its buy call on BINTULU PORT HOLDINGS BHD [] at RM6.38 with an unchanged target price of RM6.78, and said the company's 1QFY10 revenue and earnings were in line with estimates but slightly below consensus.
It said revenue growth remained flat as the Chinese New Year effect had somewhat contributed to the slowdown.
"Bintulu has announced a dividend of 75 sen, which is slightly above our forecast.
"With our forecasts unchanged at this juncture, premised on a DDM valuation with a required cost of 8.3%, we derive an unchanged target price of RM6.78. Maintain buy," it said.
Company Name: BINTULU PORT HOLDINGS BHD
Research House: OSK
KUALA LUMPUR: OSK Research has maintained its buy call on BINTULU PORT HOLDINGS BHD [] at RM6.38 with an unchanged target price of RM6.78, and said the company's 1QFY10 revenue and earnings were in line with estimates but slightly below consensus.
It said revenue growth remained flat as the Chinese New Year effect had somewhat contributed to the slowdown.
"Bintulu has announced a dividend of 75 sen, which is slightly above our forecast.
"With our forecasts unchanged at this juncture, premised on a DDM valuation with a required cost of 8.3%, we derive an unchanged target price of RM6.78. Maintain buy," it said.
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