Tuesday, June 22, 2010

DiGi top loser in late afternoon

KUALA LUMPUR: Shares of DIGI.COM BHD [] fell the most in late afternoon trade on Tuesday, June 22 in line with the weaker broader market which came under some profit taking.

At 4.36pm, it was down 64 sen to RM22.80. The FBM KLCI fell 8.9 points to 1,326.39.

Maybank Investment Bank Research said it continues to expect single-digit earnings growth from DiGi in 2010-12, with the ability to sustain an 8% net dividend yield per annum if it decides to pay out all excess cash instead of actively pursuing double-digit earnings growth.

"At our DCF-based TP of RM23.20, DiGi would trade at a prospective 15.2x 2011 PER," it said.

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