Stock Name: AEON
Company Name: AEON CO. (M) BHD
Affin Research raised its target price on Malaysia's Aeon Co (M) Bhd, a retail store operator, to RM9.95 per share from RM9.25 previously, citing stronger same store sales (SSS) from the company from 2012 to 2014.
"We expect stronger SSS growth from fiscal year (ending Dec 31) 2012 to 2014, underpinned by stronger contribution from the newly-reopened 1 Utama outlet, and sustained consumer spending from favourable employment conditions and growth in private investment and government spending," Affin said in a report.
Maintaining a 'buy' call on the counter, the broker revised Aeon's average blended SSS growth for FY2012-2014 to 6.5 per cent, higher than the 5 per cent Aeon recorded in FY2011.
By 10.25 am, Aeon shares were unchanged at RM9.15 per share. The counter gained 26.4 per cent since the start of this year. - Reuters
Company Name: AEON CO. (M) BHD
| Research House: AFFIN | Price Call: BUY | Target Price: 9.95 |
Affin Research raised its target price on Malaysia's Aeon Co (M) Bhd, a retail store operator, to RM9.95 per share from RM9.25 previously, citing stronger same store sales (SSS) from the company from 2012 to 2014.
"We expect stronger SSS growth from fiscal year (ending Dec 31) 2012 to 2014, underpinned by stronger contribution from the newly-reopened 1 Utama outlet, and sustained consumer spending from favourable employment conditions and growth in private investment and government spending," Affin said in a report.
Maintaining a 'buy' call on the counter, the broker revised Aeon's average blended SSS growth for FY2012-2014 to 6.5 per cent, higher than the 5 per cent Aeon recorded in FY2011.
By 10.25 am, Aeon shares were unchanged at RM9.15 per share. The counter gained 26.4 per cent since the start of this year. - Reuters
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