Wednesday, February 18, 2015

ValueMax kept at 'buy' with 55 cents target price by OSK DMG

Stock Name: ValueMax
Company Name: VALUEMAX GROUP LIMITED
Research House: OSK-DMGPrice Call: BUYTarget Price: 0.55



SINGAPORE (Feb 18): OSK DMG has maintained its "buy" call on ValueMax Group with a slightly lowered target price of 55 cents from 57 cents, pegged to 1.9 times financial year ending Dec 31, 2015 (FY15) price-to-book value (P/BV).

"We downgrade our FY15/16 profit after tax and minority interest (PATMI) projections by 36%/37% respectively but remain optimistic that Valuemax will emerge as the top among its listed peers," OSK DMG analysts Jarick Seet and Terence Wong said in a note today.

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