Stock Name: BIMB
Company Name: BIMB HOLDINGS BHD
Buy, target price raised. BIMB Holdings' 51%-owned Bank Islam is taking a more cautious approach to lending in 2012 but will place more emphasis on portfolio rebalancing, which we view positively. Much of this cautiousness is reflected in our assumptions, but our net profit forecasts are nevertheless raised by 4-5% on lower credit cost estimates. With a higher target P/BV, our SOP-derived target price for BIMB is raised to RM2.55 from RM2.40.
Maybank Research - 19 March 2012
Click here for full report
Company Name: BIMB HOLDINGS BHD
| Research House: MAYBANK | Price Call: BUY | Target Price: 2.55 |
Buy, target price raised. BIMB Holdings' 51%-owned Bank Islam is taking a more cautious approach to lending in 2012 but will place more emphasis on portfolio rebalancing, which we view positively. Much of this cautiousness is reflected in our assumptions, but our net profit forecasts are nevertheless raised by 4-5% on lower credit cost estimates. With a higher target P/BV, our SOP-derived target price for BIMB is raised to RM2.55 from RM2.40.
Maybank Research - 19 March 2012
Click here for full report
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