vested
June 7, 2023
Maiden dividend expected in FY24F
Reiterate Add with a higher TP of RM5.08 based on DCF as we raise our FY23-25F EPS by 36-107% on higher blended ASP assumptions.
Earnings recovery has thus far been ASP and cost driven. We expect stronger volume growth in 2HCY23F.
We think strong FCF generation will result in maiden dividends in FY24F.
Source: CIMB
https://rfs.cgs-cimb.com/api/download?f ... 463455E01C