KUALA LUMPUR (Jan 13): Maybank Investment Bank Research has reduced the target price of KNM GROUP BHD [] to 88 sen following a 10%-19% downgrade in FY12-13F earnings forecasts on lower revenue recognition.
It said on Friday that while margin pressure has abated on improving order flows, it is cautious of KNM's cost management abilities and so retain a conservative stance on its estimates.
“KNM needs to deliver a consistent set of quarterly results to warrant a re-rating. Sell maintained,” it said.
It said on Friday that while margin pressure has abated on improving order flows, it is cautious of KNM's cost management abilities and so retain a conservative stance on its estimates.
“KNM needs to deliver a consistent set of quarterly results to warrant a re-rating. Sell maintained,” it said.
