Stock Name: AEON
Company Name: AEON CO. (M) BHD
Kenanga Research raised its target price of retail store operator Aeon Co (M) Bhd to RM10.70 per share from RM9.54,
citing a stronger growth outlook in the second half of the year.
The move comes despite the company's first-half earnings coming in lower than expected, with net profit almost flat, growing only 0.6 per cent year-on-year.
"Sales in the second half of the year should be better due to the festive season," Kenanga said in a research note on Monday.
Maintaining its 'market perform' call on the counter, the research house retained its earnings estimates for the financial years 2012 and 2013.
As of 10.35 am, Aeon's shares gained 1.79 per cent against the Malaysian benchmark stock index's 0.04 per cent rise. - Bernama
Company Name: AEON CO. (M) BHD
| Research House: KENANGA | Price Call: BUY | Target Price: 10.70 |
Kenanga Research raised its target price of retail store operator Aeon Co (M) Bhd to RM10.70 per share from RM9.54,
citing a stronger growth outlook in the second half of the year.
The move comes despite the company's first-half earnings coming in lower than expected, with net profit almost flat, growing only 0.6 per cent year-on-year.
"Sales in the second half of the year should be better due to the festive season," Kenanga said in a research note on Monday.
Maintaining its 'market perform' call on the counter, the research house retained its earnings estimates for the financial years 2012 and 2013.
As of 10.35 am, Aeon's shares gained 1.79 per cent against the Malaysian benchmark stock index's 0.04 per cent rise. - Bernama
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