XMH kept at 'buy' with 30 cents target price by RHB

Stock Name: XMH
Company Name: XMH HOLDINGS LTD.

Research House: RHB

Price Call: BUY

Target Price: 0.30

SINGAPORE (June 12): RHB is maintaining its 'buy' call on XMH, the customised propeller engine supplier, with a 30 cents target price with subsidiaries Mech-Power Generator (MPG) and Z-Power securing contracts worth $23.1 million with deliveries stretching into 2017.

Z-Power was also awarded the prestigious ABB Value Provider Certification.

"We believe that strong operations at these subsidiaries could contribute to XMH's 75% FY16F earnings growth," says XMH in a June 11 report.

MPG and Z-Power were awarded contracts of $15.5 million and $7.6 million.