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Top Calls
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Company Update - FGV
(HOLD, Downgrade)
- Long term, short term Proposed acquisitions of 37% stake in BWPT and greenfield sugar project may be long term positive. But high price paid, rise in financial leverage, potential short term EPS dilution and absence of moratorium on new FGV shares to be issued may not be well received by short to medium term investors. Taking a 10% discount to our previous 2016 PE target of 16x, target price is cut to RM1.92 and stock rating is downgraded from BUY to HOLD.
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Other Calls
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Economy - US Outlook � Weekly Wrap (8 - 12 June
2015)
US GDP likely higher in 2Q15 due to private consumption
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For
important disclosures, please refer to the Disclosure section at the end of
the individual linked research reports. |
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