Stock Name: MBMR
Company Name: MBM RESOURCES BHD
Maintain Hold, but with a higher TP. Results met expectations but dividends did not, for none was declared in 4Q11 (4Q10 DPS: 8sen). Meanwhile, MBM has proposed a 3-for-10 bonus and a 3-for-10 rights and free warrants. Pending an analyst briefing today, we maintain our forecasts but have raised our target price to RM4.60 as valuations are rolled forward into 2013, on an unchanged target PER of 7x.
Maybank Research 27 Feb 2012
Click here for full report
Company Name: MBM RESOURCES BHD
| Research House: MAYBANK | Price Call: HOLD | Target Price: 4.60 |
Maintain Hold, but with a higher TP. Results met expectations but dividends did not, for none was declared in 4Q11 (4Q10 DPS: 8sen). Meanwhile, MBM has proposed a 3-for-10 bonus and a 3-for-10 rights and free warrants. Pending an analyst briefing today, we maintain our forecasts but have raised our target price to RM4.60 as valuations are rolled forward into 2013, on an unchanged target PER of 7x.
Maybank Research 27 Feb 2012
Click here for full report
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