Stock Name: STAR
Company Name: STAR PUBLICATIONS (M) BHD
Stable outlook. Star recorded 9M11 results that were largely within expectations. 4Q11 net profit is likely to be flattish YoY at c.RM50m - although average newsprint prices have appreciated to < USD700/MT, adex revenue is still growing YoY, albeit, at mid single digits in percentage terms. In the mean time, dividend yields of 6% should help support its share price. Maintain Hold call and DCF-based RM3.37 TP.
Maybank research (24 November 2011)
Click here for full report
Company Name: STAR PUBLICATIONS (M) BHD
| Research House: MAYBANK | Price Call: HOLD | Target Price: 3.37 |
Stable outlook. Star recorded 9M11 results that were largely within expectations. 4Q11 net profit is likely to be flattish YoY at c.RM50m - although average newsprint prices have appreciated to < USD700/MT, adex revenue is still growing YoY, albeit, at mid single digits in percentage terms. In the mean time, dividend yields of 6% should help support its share price. Maintain Hold call and DCF-based RM3.37 TP.
Maybank research (24 November 2011)
Click here for full report
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