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updated at: Wed, 09 Dec 2020, 05:25PM MYT

Kenanga IB Research raises target price for Kossan to RM6.31

Original Source From TheEdge Publish at Wed, 15 Apr 2020, 08:44AM

KUALA LUMPUR (April 15): Kenanga IB Research has maintained its ‘Outperform” rating on Kossan Rubber Industries Bhd at RM5.31 with a higher target price (TP) of RM6.31 (from RM5.90) and said the stage is now set for a solid FY20 after three quarters of anaemic quarterly earnings growth.

In a note today, the research house said that looking ahead, forward earnings growth will be amplified by re-stocking activities ramp-up due to the current COVID-19 pandemic and further boosted by better margins from higher average selling price.

“TP raised from RM5.90 to RM6.30 based on 28.5x FY21E EPS (at +1.5SD above 5-year historical forward mean).

“We roll forward our valuation from FY20E to FY21E. Reiterate Outperform,” it said.

updated at: Fri, 29 May 2020 MYT
Participation (%)
Bought (MYR)
Sold (MYR)
( 24,36 % )
2.31 B 2.23 B 77.37 M
Local Institution
( 39,38 % )
3.66 B 3.67 B 0.00 B
Local Retail
( 36,26 % )
3.34 B 3.41 B -0.07 B