KUALA LUMPUR (Nov 9): Hwang DBS Vickers Research (HDBSVR) has a Buy on DRB-Hicom but reduced the target price to RM3.45.
It said on Wednesday it had reduced the FY12F-FY14F earnings after factoring in lower earnings from Honda Malaysia due to the Thailand flood, back loading contribution for Deftech contract, and trimmed Alam Flora’s earnings.
“Our target price is now RM3.45, at 20% discount to sum-of-parts,” it said.
It said on Wednesday it had reduced the FY12F-FY14F earnings after factoring in lower earnings from Honda Malaysia due to the Thailand flood, back loading contribution for Deftech contract, and trimmed Alam Flora’s earnings.
“Our target price is now RM3.45, at 20% discount to sum-of-parts,” it said.
