Dec 4 2010, 09:35 PM
QUOTE(skiddtrader @ Dec 3 2010, 06:46 PM)
Found a snippet of CIMB research on 1st Dec downgrading JCY.
"We slash our FY11-12 EPS estimates by 20-28%. In view of the murky near-term outlook and P/E compression for HDD suppliers, we cut our target P/E from 12x CY11 to 8x CY12, in line with the industry average. This reduces our target price from RM1.88 to 92 sen.
'We downgrade the stock from Outperform to UNDERPERFORM as the stock could be de-rated by these poor results. Although we remain positive on its long-term prospects, we believe a better time to revisit the stock would be 2H11,' it said."
The JCY-CA issued by them has a strike price of RM1.35 maturing in March 2011. How convenient 2H11 only they will re-look this share and re-rate.
This is typical scenario of Chinese Chess " Horse behind gun". I never trust bla bla specialist/expert. If the expert is so good, he/she should comment before the Quarterly Report announce! Do you know the target price revised from RM 1.88 to 92 sen is so serious to innocent buyers and investors, it just show that these kind of fellows are bullshit and useless "We slash our FY11-12 EPS estimates by 20-28%. In view of the murky near-term outlook and P/E compression for HDD suppliers, we cut our target P/E from 12x CY11 to 8x CY12, in line with the industry average. This reduces our target price from RM1.88 to 92 sen.
'We downgrade the stock from Outperform to UNDERPERFORM as the stock could be de-rated by these poor results. Although we remain positive on its long-term prospects, we believe a better time to revisit the stock would be 2H11,' it said."
The JCY-CA issued by them has a strike price of RM1.35 maturing in March 2011. How convenient 2H11 only they will re-look this share and re-rate.
.This post has been edited by firee818: Dec 4 2010, 10:04 PM
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