Stock Name: Valuetronics
Company Name: VALUETRONICS HOLDINGS LIMITED
UOB KayHian in a Feb 7 research report says: "Valuetronics Holdings (VHL) reported 3QFY12 net profit of HK$31.5 million, down 0.3% y-o-y. Excluding the impact of net realised exchange gains, 3QFY12 net profit declined 16.6% y-o-y to HK$26.9 million, in line with our estimates.
"9MFY12 net profit of HK$91.9 million comprises 78.2% of our full-year forecast. Gross profit margin for 3QFY12 fell to 13.6% from 15.5% in the previous period, largely due to a change in product mix.
"We maintain our earnings estimate for FY2012-2013. Target price of 29 cents (previously 30 cents), implying 18.4% upside to our target price. Our target price is based on 5.5x FY12 PE, which is 67.3% below the peer average FY12 PE of 16.8%. MAINTAIN BUY."
Company Name: VALUETRONICS HOLDINGS LIMITED
| Research House: UOB KayHian | Price Call: BUY | Target Price: 0.29 |
UOB KayHian in a Feb 7 research report says: "Valuetronics Holdings (VHL) reported 3QFY12 net profit of HK$31.5 million, down 0.3% y-o-y. Excluding the impact of net realised exchange gains, 3QFY12 net profit declined 16.6% y-o-y to HK$26.9 million, in line with our estimates.
"9MFY12 net profit of HK$91.9 million comprises 78.2% of our full-year forecast. Gross profit margin for 3QFY12 fell to 13.6% from 15.5% in the previous period, largely due to a change in product mix.
"We maintain our earnings estimate for FY2012-2013. Target price of 29 cents (previously 30 cents), implying 18.4% upside to our target price. Our target price is based on 5.5x FY12 PE, which is 67.3% below the peer average FY12 PE of 16.8%. MAINTAIN BUY."
No comments:
Post a Comment