Stock Name: PARKSON
Company Name: PARKSON HOLDINGS BHD
Research House: OSK
Company Name: PARKSON HOLDINGS BHD
Research House: OSK
OSK Research Sdn Bhd maintained its 'buy' call on Parkson Holdings Bhd at a lower target price of RM6.31 from RM6.67 previously.
In a research note today, OSK said Parkson's first-half 2011 financial result was in line with its forecast and consensus estimates of RM373.9 million and RM371.6 million respectively.
"Apart from new openings, the stronger results were attributed to the impressive growth in China (+11.4 per cent), Malaysia (+10 per cent) and Vietnam (+23 per cent).
Meanwhile, HwangDBS Vickers Research Sdn Bhd has trimmed Parkson's financial years 2011-2013 forecast earnings by five to 10 per cent following a three-year expansion plan by its Hong Kong-listed unit, Parkson Retail Group.
However, despite the earnings downgraded, the research house still liked Parkson for its attractive valuations compared to its peers.
HwangDBS has maintained 'buy' call on Parkson at a lower target price of RM6.00 from RM6.90 previously. -- Bernama
In a research note today, OSK said Parkson's first-half 2011 financial result was in line with its forecast and consensus estimates of RM373.9 million and RM371.6 million respectively.
"Apart from new openings, the stronger results were attributed to the impressive growth in China (+11.4 per cent), Malaysia (+10 per cent) and Vietnam (+23 per cent).
Meanwhile, HwangDBS Vickers Research Sdn Bhd has trimmed Parkson's financial years 2011-2013 forecast earnings by five to 10 per cent following a three-year expansion plan by its Hong Kong-listed unit, Parkson Retail Group.
However, despite the earnings downgraded, the research house still liked Parkson for its attractive valuations compared to its peers.
HwangDBS has maintained 'buy' call on Parkson at a lower target price of RM6.00 from RM6.90 previously. -- Bernama
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