Stock Name: KPJ
Company Name: KPJ HEALTHCARE BHD
Research House: OSK
KUALA LUMPUR: OSK Research said although KPJ Healthcare's 1QFY11 net profit only accounted for 21% and 20% of its and consensus FY11 forecast, it viewed the results as inline with its expectation as the 1Q is typically the weakest quarter due to seasonal factors.
'We maintain our forecast but take into account KPJ's enlarged share base of 566.3m from 528.9m previously due to warrants that have been exercised,' it said on Monday, May 23.
OSK Research said in tandem with the upward rerating for the sector's regional PER multiples, it now values KPJ at 19.6x PER on FY12 EPS and arrive at a higher FV of RM5.37 from RM4.62 (18.5x PER on FY11 EPS) previously.
'We maintain our BUY recommendation and reiterate our view that KPJ is an excellent choice for long term investment and portfolio balancing offering growth potential in a defensive sector,' it said.
Company Name: KPJ HEALTHCARE BHD
Research House: OSK
KUALA LUMPUR: OSK Research said although KPJ Healthcare's 1QFY11 net profit only accounted for 21% and 20% of its and consensus FY11 forecast, it viewed the results as inline with its expectation as the 1Q is typically the weakest quarter due to seasonal factors.
'We maintain our forecast but take into account KPJ's enlarged share base of 566.3m from 528.9m previously due to warrants that have been exercised,' it said on Monday, May 23.
OSK Research said in tandem with the upward rerating for the sector's regional PER multiples, it now values KPJ at 19.6x PER on FY12 EPS and arrive at a higher FV of RM5.37 from RM4.62 (18.5x PER on FY11 EPS) previously.
'We maintain our BUY recommendation and reiterate our view that KPJ is an excellent choice for long term investment and portfolio balancing offering growth potential in a defensive sector,' it said.
No comments:
Post a Comment