CImb berani 4.10 for DRB
CIMB Research maintains Outperform on DRB-Hicom, target price RM4.10
Business & Markets 2012
Written by theedgemalaysia.com
Monday, 09 July 2012 08:35
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KUALA LUMPUR (July 9): CIMB Research has maintained its Outperform rating on DRB-HICOM BHD [] at RM2.62 with a target price of RM4.10 and said that after a few high-profile deals such as its collaboration with VW and the acquisition of POS Malaysia and Proton, DRB has spared no time in getting to work.
In a note Monday, the research house that in the pipeline could be a strategic collaboration between Proton and an OEM as well as the disposal of non-core assets.
“Our above-consensus forecasts reflect cost-savings from the low hanging fruit in Proton and recovery of Honda Malaysia.
“Further catalysts could include a possible collaboration between Proton and VW and divestment of non-core assets.
“Our Outperform and SOP-based target price have been maintained. DRB remains a top pick in the sector,” it said.