Singapore Stock Market News

Midas Holdings - Regaining the Midas touch?

StockFanatic
Publish date: Sat, 08 Dec 2012, 06:31 PM
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We hosted Midas on a non-deal roadshow in Hong Kong last week during which the company gave a rather positive guidance on order momentum. We are also convinced that Midas's diversification strategy could elevate its growth profile, though not without some risk.

We expect near-term price catalysts from high-speed train car orders. We also find comfort in newly-identified growth areas of the aviation, shipping and automobile industries. Our Outperform rating is maintained, as is our target price, still based on 15.5x CY14 EPS (10% discount from its 5-year forward average).
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