Stock Name: LMCEMNT
Company Name: LAFARGE MALAYAN CEMENT BHD
Research House: MAYBANK
KUALA LUMPUR: Maybank Investment Bank Research says Lafarge Malayan Cement is not on its Buy list.
It said on Tuesday, June 22 the share price remains firm (+6% year-to-date) despite poor 1Q10 results.
"Although Lafarge has the potential for a capital repayment, we think it may be too early to buy the stock," it said.
The research house said the factors were: (i) domestic cement demand has yet to show clear rebound, and demand optimism has had false starts in the past; (ii) capital repayment might materialise only in 2011.
"We maintain our Hold rating and TP of RM6.40 (12x 2011 PER)," it said.
Company Name: LAFARGE MALAYAN CEMENT BHD
Research House: MAYBANK
KUALA LUMPUR: Maybank Investment Bank Research says Lafarge Malayan Cement is not on its Buy list.
It said on Tuesday, June 22 the share price remains firm (+6% year-to-date) despite poor 1Q10 results.
"Although Lafarge has the potential for a capital repayment, we think it may be too early to buy the stock," it said.
The research house said the factors were: (i) domestic cement demand has yet to show clear rebound, and demand optimism has had false starts in the past; (ii) capital repayment might materialise only in 2011.
"We maintain our Hold rating and TP of RM6.40 (12x 2011 PER)," it said.
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