Multi-Purpose Holdings; Buy; RM2.80
Price Target: RM3.40 (Prev RM3.30); MPU MK
Results below expectations, 2012-13F earnings cut by 9-3%. Continued disposal of non-core assets could see dividend payout rise further and healthier gearing. Maintain Buy, TP raised to RM4.30.
Source: HwangDBS Research 27 Feb 2012
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