Padini Holdings; Buy; RM1.33
Price Target: RM1.45 (Prev RM1.40); PAD MK
6MFY12 earnings beat expectations; declares 2sen net DPS, implying 46% quarterly payout. Brands Outlets to drive FY12-14F growth, boosted by mega sales; FY12-14F earnings nudged up 3-4%. Maintain Buy; TP nudged up to RM1.45.
Source: HwangDBS Research 29 Feb 2012
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