No surprises, on track for growth
Maintain Buy. 1QFY12 results yielded no surprises with Dialog
registering a solid 35% YoY growth in net profit. We are keeping our
conservative forecasts unchanged with further upside potential. We
continue to like its business model, its focused management and
defensive qualities that offer steady and progressive dividends. Dialog
remains among our preferred Buys in O&G with an unchanged RM3.35
target price (sum-of-part valuations).
Maybank research (17 November 2011)
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