Stock Name: BAT
Company Name: BRITISH AMERICAN TOBACCO (M)
Fairly reflected. BAT outperformed the industry in 2011, after eight years of market share contraction. However, we think BAT's strong fundamentals are fairly reflected in its share price, with the stock trading at 19.2x 2012 PER, +1SD above mean. Maintain Hold at a marginally higher TP of RM50.40 (+6.1%) after reviewing our DCF parameters.
Maybank Research 17 Feb 2012
Click here for full report
Company Name: BRITISH AMERICAN TOBACCO (M)
| Research House: MAYBANK | Price Call: HOLD | Target Price: 50.40 |
Fairly reflected. BAT outperformed the industry in 2011, after eight years of market share contraction. However, we think BAT's strong fundamentals are fairly reflected in its share price, with the stock trading at 19.2x 2012 PER, +1SD above mean. Maintain Hold at a marginally higher TP of RM50.40 (+6.1%) after reviewing our DCF parameters.
Maybank Research 17 Feb 2012
Click here for full report
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