Stock Name: PARKSON
Company Name: PARKSON HOLDINGS BHD
KUALA LUMPUR (Nov 24): MIDF Research has upgraded PARKSON HOLDINGS BHD [] (PHB) to Buy from Neutral with a higher target price of RM6.42 (from RM4.82).
The research house said on Thursday that it was adjusting its sum-of-parts valuation to include the recent listing of Parkson Asia (PA) as well as stake dilution in PA to 67.6%.
'We also ascribed a higher PER12 for its China operation of 18.7x (previous 13.4x) and PRA (Malaysia, Indonesia and Vietnam) operations of 13.7x based on its peers average multiple (refer table D and E).
'We like PHB given its exposure to regional retail sector as well as its on track network expansion plan,' it said.
Company Name: PARKSON HOLDINGS BHD
| Research House: MIDF | Price Call: BUY | Target Price: 6.42 |
KUALA LUMPUR (Nov 24): MIDF Research has upgraded PARKSON HOLDINGS BHD [] (PHB) to Buy from Neutral with a higher target price of RM6.42 (from RM4.82).
The research house said on Thursday that it was adjusting its sum-of-parts valuation to include the recent listing of Parkson Asia (PA) as well as stake dilution in PA to 67.6%.
'We also ascribed a higher PER12 for its China operation of 18.7x (previous 13.4x) and PRA (Malaysia, Indonesia and Vietnam) operations of 13.7x based on its peers average multiple (refer table D and E).
'We like PHB given its exposure to regional retail sector as well as its on track network expansion plan,' it said.
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