Stock Name: CIMB
Company Name: CIMB GROUP HOLDINGS BERHAD
Stock Name: PBBANK
Company Name: PUBLIC BANK BHD
Stock Name: HLBANK
Company Name: HONG LEONG BANK BHD
Stock Name: AMMB
Company Name: AMMB HOLDINGS BHD
Stock Name: MAYBANK
Company Name: MALAYAN BANKING BHD
Stock Name: RHBCAP
Company Name: RHB CAPITAL BHD
Stock Name: AFG
Company Name: ALLIANCE FINANCIAL GROUP BHD
OSK Research has downgraded its call on the banking sector to "neutral", citing lack of catalysts.
"While we do not expect any major meltdown in asset quality or liquidity constraints, we think that earnings growth momentum may have slowed significantly," the research house said in its Investment Research Daily today.
"With growth expected to moderate even more in 2012, consensus' current double digit earnings growth expectations for 2012 may be a little far-fetched, in our view, given the current global economic headwinds," it said.
It places a "neutral" call on CIMB with a fair value of RM8.20, Public Bank (RM14.00), Hong Leong Bank (RM12.70) and AMMB (RM6.95) but recommends a "buy" on Maybank (RM9.60), RHB Capital Bhd (RM9.90) and Alliance Finance Group (RM3.80).
Maybank's strong consumer banking franchise and fast expanding investment banking and corporate banking provided the group a well diversified earnings platform base to benefit from either the Economic Transformation Programme (ETP)-related financing upside or stronger than expected consumer recovery upside, OSK Research said.
RHB Capital, meanwhile, was expected to be back in the merger and acquisition spot light as further sector consolidation was likely to be revisited following the soon-to-be-unveiled Financial Sector Master Plan which focuses on liberalisation of the banking sector.
OSK Research said AFG was confident that the group would be able to deliver solid results going forward, riding mainly on higher non-interest income and decent loans growth. -- Bernama
Company Name: CIMB GROUP HOLDINGS BERHAD
| Research House: OSK | Price Call: HOLD | Target Price: 8.20 |
Stock Name: PBBANK
Company Name: PUBLIC BANK BHD
| Research House: OSK | Price Call: HOLD | Target Price: 14.00 |
Stock Name: HLBANK
Company Name: HONG LEONG BANK BHD
| Research House: OSK | Price Call: HOLD | Target Price: 12.70 |
Stock Name: AMMB
Company Name: AMMB HOLDINGS BHD
| Research House: OSK | Price Call: HOLD | Target Price: 6.95 |
Stock Name: MAYBANK
Company Name: MALAYAN BANKING BHD
| Research House: OSK | Price Call: BUY | Target Price: 9.60 |
Stock Name: RHBCAP
Company Name: RHB CAPITAL BHD
| Research House: OSK | Price Call: BUY | Target Price: 9.90 |
Stock Name: AFG
Company Name: ALLIANCE FINANCIAL GROUP BHD
| Research House: OSK | Price Call: BUY | Target Price: 3.80 |
OSK Research has downgraded its call on the banking sector to "neutral", citing lack of catalysts.
"While we do not expect any major meltdown in asset quality or liquidity constraints, we think that earnings growth momentum may have slowed significantly," the research house said in its Investment Research Daily today.
"With growth expected to moderate even more in 2012, consensus' current double digit earnings growth expectations for 2012 may be a little far-fetched, in our view, given the current global economic headwinds," it said.
It places a "neutral" call on CIMB with a fair value of RM8.20, Public Bank (RM14.00), Hong Leong Bank (RM12.70) and AMMB (RM6.95) but recommends a "buy" on Maybank (RM9.60), RHB Capital Bhd (RM9.90) and Alliance Finance Group (RM3.80).
Maybank's strong consumer banking franchise and fast expanding investment banking and corporate banking provided the group a well diversified earnings platform base to benefit from either the Economic Transformation Programme (ETP)-related financing upside or stronger than expected consumer recovery upside, OSK Research said.
RHB Capital, meanwhile, was expected to be back in the merger and acquisition spot light as further sector consolidation was likely to be revisited following the soon-to-be-unveiled Financial Sector Master Plan which focuses on liberalisation of the banking sector.
OSK Research said AFG was confident that the group would be able to deliver solid results going forward, riding mainly on higher non-interest income and decent loans growth. -- Bernama
No comments:
Post a Comment