Stock Name: Yoma
Company Name: YOMA STRATEGIC HOLDINGS LTD
Shares in Yoma Strategic Holdings jumped as much as 6% to a three-month high of $0.88 on Tuesday, after brokerages upgraded the property developer on upbeat business prospects in Myanmar. "The booming property sector, accelerated construction and Landmark’s progress lead us to raise FY14/15F earnings by 60%/40%," said DBS Vickers Securities in a note. It said its target price on Yoma to $0.92 from $0.80. Yoma reported a net profit of $11.5 million for the quarter ended March 31, up from $2.1 million a year earlier, boosted by an increase in sales of residences and land development rights in Myanmar. Yoma’s involvement in Myanmar’s telecommunication and agriculture industries could propel its share prices higher, analysts also said. The shares have risen nearly 22% so far this year, beating a 6.7% gain in the sector index. OCBC Investment Research upgraded its call on the stock to “hold” from “sell”, and increased the fair value estimate to $0.87 from $0.71. Yoma, in partnership with Digicel and Quantum Strategic Partners, is bidding for one of the two telecommunication licenses that Myanmar is expected to be awarded later this year.
Company Name: YOMA STRATEGIC HOLDINGS LTD
| Research House: DBS Vickers | Price Call: HOLD | Target Price: 0.87 |
Shares in Yoma Strategic Holdings jumped as much as 6% to a three-month high of $0.88 on Tuesday, after brokerages upgraded the property developer on upbeat business prospects in Myanmar. "The booming property sector, accelerated construction and Landmark’s progress lead us to raise FY14/15F earnings by 60%/40%," said DBS Vickers Securities in a note. It said its target price on Yoma to $0.92 from $0.80. Yoma reported a net profit of $11.5 million for the quarter ended March 31, up from $2.1 million a year earlier, boosted by an increase in sales of residences and land development rights in Myanmar. Yoma’s involvement in Myanmar’s telecommunication and agriculture industries could propel its share prices higher, analysts also said. The shares have risen nearly 22% so far this year, beating a 6.7% gain in the sector index. OCBC Investment Research upgraded its call on the stock to “hold” from “sell”, and increased the fair value estimate to $0.87 from $0.71. Yoma, in partnership with Digicel and Quantum Strategic Partners, is bidding for one of the two telecommunication licenses that Myanmar is expected to be awarded later this year.
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