Singapore Stock Market News
Midas Holdings - Recovery underway
StockFanatic
Publish date: Tue, 01 Dec 2015, 12:36 PM
StockFanatic
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Maintain BUY; more substantial recovery from 2016 onwards. We see value in Midas' share at 0.5x FY16 P/BV currently as we project that the Group's earnings will to start to recover more substantially from 2016 onwards, as contribution from its new aluminium plate and sheet plant kicks in. We see the stock rerating towards our TP of S$0.49, based on 0.9x FY16 P/BV as earnings improve and ROE increases.
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