Stock Name: MEDIA
Company Name: MEDIA PRIMA BHD
Stripping out the negative goodwill in2010, Media Prima's FY2011 adjusted net profit recorded at a decent growth of11% on the back of effective cost management in TV segment. A final interimdividend of 5.0 sen was proposed, translating into a YTD total dividend of 16sen with 4.1% yield. In view of the dimmed economic outlook, we trim ourearnings estimates by 6% in FY12-FY13. Our target price is also reduced from RM2.51to RM2.35 pegged against a mid-cycle P/E of 14x. Reiterate our HOLD call.
Source: ECMNewz Bits 24 February 2012 and view the original report at here
Company Name: MEDIA PRIMA BHD
| Research House: ECMLIBRA | Price Call: HOLD | Target Price: 2.35 |
Stripping out the negative goodwill in2010, Media Prima's FY2011 adjusted net profit recorded at a decent growth of11% on the back of effective cost management in TV segment. A final interimdividend of 5.0 sen was proposed, translating into a YTD total dividend of 16sen with 4.1% yield. In view of the dimmed economic outlook, we trim ourearnings estimates by 6% in FY12-FY13. Our target price is also reduced from RM2.51to RM2.35 pegged against a mid-cycle P/E of 14x. Reiterate our HOLD call.
Source: ECMNewz Bits 24 February 2012 and view the original report at here
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