Stock Name: HARISON
Company Name: HARRISONS HOLDINGS (M) BHD
Research House: CIMB
KUALA LUMPUR: Harrisons Holdings Bhd shares rose on Wednesday, May 11 after CIMB Research said it sees huge upside for the company that distributes consumer goods and building materials, whose customers include Nestle, F&N and Kao.
At 9.30am, Harrisons was up 19 sen to RM3.98 with 110,500 shares traded.
CIMB Research said on Wednesday, May 11 the stock was not on the radar screens of institutional investors or even retail research houses, mainly because of its tight free float and an average 3-month daily trading volume of only 50,000 shares.
'It is, therefore, not surprising that the stock is undervalued, trading at a huge 60% discount to its RM9.27 SOP/share. A 30% discount to its SOP value to reflect its poor trading liquidity pegs the stock at RM6.49, which implies share price upside of 71%. At this price, P/E would still be an attractive 9.9x CY12,' it said.
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Company Name: HARRISONS HOLDINGS (M) BHD
Research House: CIMB
KUALA LUMPUR: Harrisons Holdings Bhd shares rose on Wednesday, May 11 after CIMB Research said it sees huge upside for the company that distributes consumer goods and building materials, whose customers include Nestle, F&N and Kao.
At 9.30am, Harrisons was up 19 sen to RM3.98 with 110,500 shares traded.
CIMB Research said on Wednesday, May 11 the stock was not on the radar screens of institutional investors or even retail research houses, mainly because of its tight free float and an average 3-month daily trading volume of only 50,000 shares.
'It is, therefore, not surprising that the stock is undervalued, trading at a huge 60% discount to its RM9.27 SOP/share. A 30% discount to its SOP value to reflect its poor trading liquidity pegs the stock at RM6.49, which implies share price upside of 71%. At this price, P/E would still be an attractive 9.9x CY12,' it said.
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