CDW Holding gets "buy" call from RHB; 31-cent price target

Stock Name: CDW
Company Name: CDW HOLDING LIMITED

Research House: RHB

Price Call: BUY

Target Price: 0.31

SINGAPORE (April 27): RHB Securities Singapore has started coverage of CDW Holding with a "buy" rating and price target of 31 cents.

Shares of the Hong Kong-based company, which makes components for LCD screens and printed circuits for mobile devices, are substantially undervalued, according to RHB analysts Jarick Seet and Terence Wong.

With net cash making up 76% of its current market value, CDW is effectively trading at a bargain of 1.8 times projected FY2015 earnings, excluding cash, they said.