Stock Name: AEON
Company Name: AEON CO. (M) BHD
Downgrade to Hold. AEON's share price is up an impressive 33% YTD and has breached our TP of RM8.70 (pegged at 14x 2013 PER). With little upside catalyst at this stage and low dividend yield as support, we downgrade our recommendation from Buy to Hold. We forecast revenue growth of 6.8% for the group in 2012, in line with the 6% industry growth expected by the Retail Association of Malaysia.
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Source: Maybank Research - 18 April 2012
Company Name: AEON CO. (M) BHD
| Research House: MAYBANK | Price Call: HOLD | Target Price: 8.70 |
Downgrade to Hold. AEON's share price is up an impressive 33% YTD and has breached our TP of RM8.70 (pegged at 14x 2013 PER). With little upside catalyst at this stage and low dividend yield as support, we downgrade our recommendation from Buy to Hold. We forecast revenue growth of 6.8% for the group in 2012, in line with the 6% industry growth expected by the Retail Association of Malaysia.
Click here for full report
Source: Maybank Research - 18 April 2012
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