F&N Malaysia

F&N Malaysia

Postby winston » Thu Nov 13, 2014 8:08 pm

not vested

CIMB says F&N shares are ‘attractive’
10 NOVEMBER 2014

CIMB Research recommended investors to buy Fraser & Neave Holdings Bhd (F&N) shares, as there is upside potential to its earnings forecast if raw materials become cheaper.

In its research note yesterday, CIMB said F&N price-to-earnings is trading at 20 times, “which we think is attractive, given its strong brand name and leadership position in the industry”.

It noted that F&N management is expected to increase its market share by increasing its distribution network and improving its product mix, as well as introducing more new products.

“We maintain our earnings forecasts and discounted cashflow-based target price at RM24.52.

We also maintain our “add” call on the stock, with more product cross-selling and the recovery of margins in Thailand,” CIMB said.

Source: NST
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