Stock Name: HAIO
Company Name: HAI-O ENTERPRISE BHD
Affin Investment Bank raised its call on Hai-O Enterprise Bhd to 'buy' from 'add', citing a bright growth outlook and strong demand for the marketing firm's products.
Affin said it also raised its target price on the shares of Hai-O to RM2.98 per share from RM2.55 on valuation.
"We understand that management has developed a successful operating strategy for its multi-level marketing division, and is currently experiencing strong rebound in membership growth," Affin said.
The research house also lifted its earnings per share forecast on Hai-O by 2-2.6 per cent for the financial years between 2013 and 2015 citing the company's new membership growth of 16 per cent and on expectations of a stronger sales performance.
"We reckon that Hai-O is a generous company and rewards its shareholders by paying out dividends of at least 50 per cent of its net profit," Affin added.
As of 10.17am, Hai-O's shares inched down 0.4 per cent against the benchmark stock index's 0.2 per cent loss.-- Reuters
Company Name: HAI-O ENTERPRISE BHD
| Research House: AFFIN | Price Call: BUY | Target Price: 2.98 |
Affin Investment Bank raised its call on Hai-O Enterprise Bhd to 'buy' from 'add', citing a bright growth outlook and strong demand for the marketing firm's products.
Affin said it also raised its target price on the shares of Hai-O to RM2.98 per share from RM2.55 on valuation.
"We understand that management has developed a successful operating strategy for its multi-level marketing division, and is currently experiencing strong rebound in membership growth," Affin said.
The research house also lifted its earnings per share forecast on Hai-O by 2-2.6 per cent for the financial years between 2013 and 2015 citing the company's new membership growth of 16 per cent and on expectations of a stronger sales performance.
"We reckon that Hai-O is a generous company and rewards its shareholders by paying out dividends of at least 50 per cent of its net profit," Affin added.
As of 10.17am, Hai-O's shares inched down 0.4 per cent against the benchmark stock index's 0.2 per cent loss.-- Reuters
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