Stock Name: UMW
Company Name: UMW HOLDINGS BHD
Flood shuts part of earnings. We cut 2012 net profit forecast by 10%. The prevailing auto parts issue in Thailand and inventory shortfall will short charge UMW's Toyota sales in 1Q12. We remain less sanguine of the O&G division, which is unlikely to return to the black in 2012 due to persistent strong headwinds. UMW remains a Hold with a reduced target price of RM6.10, based on 11x 2012 EPS (unchanged).
Maybank research (29 November 2011)
Click here for full report
Company Name: UMW HOLDINGS BHD
| Research House: MAYBANK | Price Call: HOLD | Target Price: 6.10 |
Flood shuts part of earnings. We cut 2012 net profit forecast by 10%. The prevailing auto parts issue in Thailand and inventory shortfall will short charge UMW's Toyota sales in 1Q12. We remain less sanguine of the O&G division, which is unlikely to return to the black in 2012 due to persistent strong headwinds. UMW remains a Hold with a reduced target price of RM6.10, based on 11x 2012 EPS (unchanged).
Maybank research (29 November 2011)
Click here for full report
No comments:
Post a Comment