Stock Name: Goodpack
Company Name: GOODPACK LIMITED
CIMB in a Sept 28 research report says: "Goodpack's trading history shows that weak sentiments could send valuations down to a trough of 5.0x P/E, as in 2008, despite intact fundamentals. It is now trading at 12.6x CY12 fully-diluted EPS.
"In view of overall market weakness, we have lowered our target from 14.4x CY12 fully-diluted EPS (blended trough valuations of 5.0x and 4-year historical forward average of 18.5x) to 10.3x CY12 fully-diluted EPS, one standard deviation below its 4-year historical forward average, while maintaining our earnings forecasts.
"Our target price falls from $1.75 to $1.30. Our downgrade notwithstanding, we believe Goodpack continues to have earnings stability and growth prospects. DOWNGRADE TO UNDERPERFORM."
Company Name: GOODPACK LIMITED
| Research House: CIMB | Price Call: SELL | Target Price: 1.30 |
CIMB in a Sept 28 research report says: "Goodpack's trading history shows that weak sentiments could send valuations down to a trough of 5.0x P/E, as in 2008, despite intact fundamentals. It is now trading at 12.6x CY12 fully-diluted EPS.
"In view of overall market weakness, we have lowered our target from 14.4x CY12 fully-diluted EPS (blended trough valuations of 5.0x and 4-year historical forward average of 18.5x) to 10.3x CY12 fully-diluted EPS, one standard deviation below its 4-year historical forward average, while maintaining our earnings forecasts.
"Our target price falls from $1.75 to $1.30. Our downgrade notwithstanding, we believe Goodpack continues to have earnings stability and growth prospects. DOWNGRADE TO UNDERPERFORM."
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