Stock Name: JTINTER
Company Name: JT INTERNATIONAL BHD
Gloomy outlook. JTI is facing intensified competition in the VFM segment from rivals who are armed with new innovative products, despite JTI's strengthening marketing efforts. Its flattish market share is exacerbated by a high level of illicits and declining cigarette consumption. We maintain our Hold on JTI for the likely special dividend payout, but with a lower DCF-based TP of RM6.20 (-10%). Net cash accounts for RM1 of our TP.
Maybank Research 29 Feb 2012
Click here for full report
Company Name: JT INTERNATIONAL BHD
| Research House: MAYBANK | Price Call: HOLD | Target Price: 6.20 |
Gloomy outlook. JTI is facing intensified competition in the VFM segment from rivals who are armed with new innovative products, despite JTI's strengthening marketing efforts. Its flattish market share is exacerbated by a high level of illicits and declining cigarette consumption. We maintain our Hold on JTI for the likely special dividend payout, but with a lower DCF-based TP of RM6.20 (-10%). Net cash accounts for RM1 of our TP.
Maybank Research 29 Feb 2012
Click here for full report
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