Stock Name: JCY
Company Name: JCY INTERNATIONAL BERHAD
KUALA LUMPUR (Jan 5): CIMB Research has raised its target price for JCY International Bhd to RM1.54 and has a trading buy on the hard disk drive maker.
It said on Thursday that JCY issued a positive profit guidance for the December quarter that was even better than its already-above-consensus estimate.
'We believe that the positive earnings momentum will continue for at least the next two to three quarters and should catalyse a rerating of the stock.
'The favourable impact of a higher ASP, better product mix and stronger US$ prompts us to revise our above-industry forecasts again for FY12-14. This raises our target price to RM1.54, still based on 6.0 times CY13 P/E. Maintain Trading Buy,' it said.
Company Name: JCY INTERNATIONAL BERHAD
| Research House: CIMB | Price Call: TRADING BUY | Target Price: 1.54 |
KUALA LUMPUR (Jan 5): CIMB Research has raised its target price for JCY International Bhd to RM1.54 and has a trading buy on the hard disk drive maker.
It said on Thursday that JCY issued a positive profit guidance for the December quarter that was even better than its already-above-consensus estimate.
'We believe that the positive earnings momentum will continue for at least the next two to three quarters and should catalyse a rerating of the stock.
'The favourable impact of a higher ASP, better product mix and stronger US$ prompts us to revise our above-industry forecasts again for FY12-14. This raises our target price to RM1.54, still based on 6.0 times CY13 P/E. Maintain Trading Buy,' it said.
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