Stock Name: CWT
Company Name: CWT LIMITED
Maybank Kim Eng Research in a May 8 research report says: "1Q12 results were beyond all expectations, with the company registering a recurring net profit of $24.9 million in this quarter. Following the 4Q11 results, we had foretold that CWT will be entering a new era of sustainable profitability.
"We believe this set of numbers affirms this and more. To put the transformation in perspective, CWT’s recurring net profit had hovered around the $25 million-$30 million level for the past four years before FY2011. We are now expect recurring net profit to hit at least $90 million this year which was consensus’s earlier estimate for 2014F.
"With all cylinders firing, any variance would likely only come from business development start-up costs. We adjust our earnings upwards by 24-28% and with a higher SOTP target price of $2.01. MAINTAIN BUY."
Company Name: CWT LIMITED
| Research House: Maybank Kim Eng | Price Call: BUY | Target Price: 2.01 |
Maybank Kim Eng Research in a May 8 research report says: "1Q12 results were beyond all expectations, with the company registering a recurring net profit of $24.9 million in this quarter. Following the 4Q11 results, we had foretold that CWT will be entering a new era of sustainable profitability.
"We believe this set of numbers affirms this and more. To put the transformation in perspective, CWT’s recurring net profit had hovered around the $25 million-$30 million level for the past four years before FY2011. We are now expect recurring net profit to hit at least $90 million this year which was consensus’s earlier estimate for 2014F.
"With all cylinders firing, any variance would likely only come from business development start-up costs. We adjust our earnings upwards by 24-28% and with a higher SOTP target price of $2.01. MAINTAIN BUY."
No comments:
Post a Comment