Stock Name: KINSTEL
Company Name: KINSTEEL BHD
Significantly disappoints. Kinsteel's 2011 core net loss of RM87m (2010: RM33m net loss) was significantly below our full-year net loss forecast of RM22m and consensus' RM25m. Though near-term earnings will remain weak, we maintain our Hold rating, as the potential official award of the iron ore mine concession to Perwaja is a major re-rating catalyst. Maintain forecasts and TP of RM0.49 (0.55x P/BV).
Maybank Research 1 March 2012
Click here for full report
Company Name: KINSTEEL BHD
| Research House: MAYBANK | Price Call: HOLD | Target Price: 0.49 |
Significantly disappoints. Kinsteel's 2011 core net loss of RM87m (2010: RM33m net loss) was significantly below our full-year net loss forecast of RM22m and consensus' RM25m. Though near-term earnings will remain weak, we maintain our Hold rating, as the potential official award of the iron ore mine concession to Perwaja is a major re-rating catalyst. Maintain forecasts and TP of RM0.49 (0.55x P/BV).
Maybank Research 1 March 2012
Click here for full report
No comments:
Post a Comment