Stock Name: Armstrong
Company Name: ARMSTRONG INDUSTRIAL CORP LTD
DMG & Partners Research in a May 18 research report says: "Armstrong’s 1Q PATMI came in strong at $5.1 million (+26.7% y-o-y) on the back of $52.3 million in sales (-7.1%) largely attributable to the exceptional items. "Discounting the one-off items, the group only managed to generate $0.8 million of operating profit before tax, as both its HDD business and Consumer Electronic businesses have yet to recover from the negative effects of the Thai floods. "Given Seagate and Western Digital (WD)’s encouraging results, we are confident that Armstrong’s HDD business will post strong performance starting from 2Q onwards. Unchanged target price of 37 cents base on 14x forward FY12 P/E (+1 SD). MAINTAIN BUY."
Company Name: ARMSTRONG INDUSTRIAL CORP LTD
| Research House: DMG | Price Call: BUY | Target Price: 0.37 |
DMG & Partners Research in a May 18 research report says: "Armstrong’s 1Q PATMI came in strong at $5.1 million (+26.7% y-o-y) on the back of $52.3 million in sales (-7.1%) largely attributable to the exceptional items. "Discounting the one-off items, the group only managed to generate $0.8 million of operating profit before tax, as both its HDD business and Consumer Electronic businesses have yet to recover from the negative effects of the Thai floods. "Given Seagate and Western Digital (WD)’s encouraging results, we are confident that Armstrong’s HDD business will post strong performance starting from 2Q onwards. Unchanged target price of 37 cents base on 14x forward FY12 P/E (+1 SD). MAINTAIN BUY."
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