Stock Name: Broadway
Company Name: BROADWAY INDUSTRIAL GROUP LTD
DBS Vickers Securities in a Jan 25 research report says: "Broadway warned that it will report a net loss for 4Q2011 and that FY11 will also be loss making. This is worse than our estimates, as we were projecting 4Q11 to breakeven.
"We had highlighted in our report that the impact of the floods in Thailand on Broadway will be material but not immediately quantifiable especially as Broadway had powered up its Wuxi plant to compensate for the loss of production in Thailand. We are currently reviewing our earnings forecast.
"As our current target price is based on -1SD P/BV valuation of 0.6x, we do not think that our target price will be significantly affected by any potential revisions in our earnings estimates. Target price of 30 cents. MAINTAIN HOLD"
Company Name: BROADWAY INDUSTRIAL GROUP LTD
| Research House: DBS Vickers | Price Call: HOLD | Target Price: 0.30 |
DBS Vickers Securities in a Jan 25 research report says: "Broadway warned that it will report a net loss for 4Q2011 and that FY11 will also be loss making. This is worse than our estimates, as we were projecting 4Q11 to breakeven.
"We had highlighted in our report that the impact of the floods in Thailand on Broadway will be material but not immediately quantifiable especially as Broadway had powered up its Wuxi plant to compensate for the loss of production in Thailand. We are currently reviewing our earnings forecast.
"As our current target price is based on -1SD P/BV valuation of 0.6x, we do not think that our target price will be significantly affected by any potential revisions in our earnings estimates. Target price of 30 cents. MAINTAIN HOLD"
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