KUALA LUMPUR: OSK Research is maintaining a trading buy on Pantech Group Holdings at 57 sen. Its last closing price was 57 sen.
It said on Monday, Oct 24 Pantech’s 1HFY12 numbers came in below its estimation and only made up 35% of its full year earnings projection.
“But we still remain positive on its development as we can see improvement from its manufacturing division indicating the stainless steel pipe mill is progressing on the right track,” it said.
OSK Research said the negative market sentiment and weakening economy backdrop prompted it to slash down its valuation parameter to 5.0 times FY12 EPS from 7.0 previously.
“Nevertheless, we still maintain our Trading BUY recommendation as we believe that Pantech’s performance will improve in 2HFY12,” it said.
It said on Monday, Oct 24 Pantech’s 1HFY12 numbers came in below its estimation and only made up 35% of its full year earnings projection.
“But we still remain positive on its development as we can see improvement from its manufacturing division indicating the stainless steel pipe mill is progressing on the right track,” it said.
OSK Research said the negative market sentiment and weakening economy backdrop prompted it to slash down its valuation parameter to 5.0 times FY12 EPS from 7.0 previously.
“Nevertheless, we still maintain our Trading BUY recommendation as we believe that Pantech’s performance will improve in 2HFY12,” it said.
