KUALA LUMPUR (Feb 16): OSK Research is maintaining a Buy on Prestariang at a higher fair value of RM1.48, based on an unchanged 8.0 times FY12 price-to-earnings ratio (PER).
It said on Thursday that Prestariang reported 4QFY11 core earnings of RM10.60 million and proposed a final DPS of 4.0 sen.
“FY11 net profit surged more than 100% on-year to a new high of RM33.6 million to match our estimates while FY11 DPS stands at 8.0sen, which translates into a lucrative yield 8.7% for the year,” it said.
OSK Research said its bullish view is reaffirmed by the strong numbers as well as the stock’s appealing forecast FY12 DPS of 9.2 sen, which translates into a dividend yield of 10%.
“We believe its stock will climb to new heights after closing at a record high of 92 sen yesterday, Hence, we maintain BUY, at a higher FV of RM1.48, based on an unchanged 8.0 times FY12 PER,” it said.
It said on Thursday that Prestariang reported 4QFY11 core earnings of RM10.60 million and proposed a final DPS of 4.0 sen.
“FY11 net profit surged more than 100% on-year to a new high of RM33.6 million to match our estimates while FY11 DPS stands at 8.0sen, which translates into a lucrative yield 8.7% for the year,” it said.
OSK Research said its bullish view is reaffirmed by the strong numbers as well as the stock’s appealing forecast FY12 DPS of 9.2 sen, which translates into a dividend yield of 10%.
“We believe its stock will climb to new heights after closing at a record high of 92 sen yesterday, Hence, we maintain BUY, at a higher FV of RM1.48, based on an unchanged 8.0 times FY12 PER,” it said.
