Stock Name: IOICORP
Company Name: IOI CORPORATION BHD
IOI Corporation's manufacturing segment is expected to contribute more than 80 per cent of the group's bottomline in financial year 2012, says JF Apex Securities.
In a research note today, it said IOI's revenue contribution from resource-based manufacturing segment has increased to 80 per cent in 2011 against 77.6 per cent in 2010.
JF Apex recommended a "buy" call with a target price of RM5.95 based on 17 times financial year 2013 price earning ratio (PER).
"Being a large cap planter, we think the current share price is undervalued as it is trading at 15 times financial year 2013 PER," it added. -- Bernama
Company Name: IOI CORPORATION BHD
| Research House: JF APEX | Price Call: BUY | Target Price: 5.95 |
IOI Corporation's manufacturing segment is expected to contribute more than 80 per cent of the group's bottomline in financial year 2012, says JF Apex Securities.
In a research note today, it said IOI's revenue contribution from resource-based manufacturing segment has increased to 80 per cent in 2011 against 77.6 per cent in 2010.
JF Apex recommended a "buy" call with a target price of RM5.95 based on 17 times financial year 2013 price earning ratio (PER).
"Being a large cap planter, we think the current share price is undervalued as it is trading at 15 times financial year 2013 PER," it added. -- Bernama
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