Stock Name: BSTEAD
Company Name: BOUSTEAD HOLDINGS BHD
Research House: ECMLIBRA
Company Name: BOUSTEAD HOLDINGS BHD
Research House: ECMLIBRA
ECM Libra Investment Research is maintaining a trading "buy" call on Boustead Holdings with a target price of RM5.96 per share.
Boustead Holdings is in the news following speculation that the group and its parent, Lembaga Tabung Angkatan Tentera, may acquire ExxonMobil International Holdings Inc's 65 per cent stake in Esso Malaysia Bhd.
"We are neutral on the news as we feel Boustead should stay focused on key cash cows, like their plantation and heavy engineering segments, and also newly acquired Pharmaniaga," said ECM Libra Investment Research in a research note today.
Meanwhile, HwangDBS Vickers Research is also maintaining its "buy" call on the group with a target price of RM7.90 per share.
It said the proposed acquisition could increase the group's scale in the business significantly.
"Assuming a 100 per cent acquisition and 70 per cent funded by debt, it could see a net profit enhancement of RM200 million, based on Esso's financial year 2010 net profit of RM268 million," it added. -- Bernama
Boustead Holdings is in the news following speculation that the group and its parent, Lembaga Tabung Angkatan Tentera, may acquire ExxonMobil International Holdings Inc's 65 per cent stake in Esso Malaysia Bhd.
"We are neutral on the news as we feel Boustead should stay focused on key cash cows, like their plantation and heavy engineering segments, and also newly acquired Pharmaniaga," said ECM Libra Investment Research in a research note today.
Meanwhile, HwangDBS Vickers Research is also maintaining its "buy" call on the group with a target price of RM7.90 per share.
It said the proposed acquisition could increase the group's scale in the business significantly.
"Assuming a 100 per cent acquisition and 70 per cent funded by debt, it could see a net profit enhancement of RM200 million, based on Esso's financial year 2010 net profit of RM268 million," it added. -- Bernama
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