KUALA LUMPUR: OSK Research is maintaining its Sell call on TMC Life Sciences and earnings forecast but revise higher its fair value (FV) to 30 sen based on about 2.0 times FY10 P/NTA.
It said on Thursday, Aug 19 that it was revising higher its FV because it did not dismiss the possibility of the currently buoyant stock market sentiment.
Underpinning its higher FV and expectations of future corporate actions from the new shareholder Peter Lim Eng Hock, OSK Research said these factors would help to sustain TMC's share price at around the 52 sen transacted price.
Therefore TMC is unlikely to retrace much lower towards its previous 21 sen price target, it said.
'We had earlier speculated that the new shareholder could be a reputable industry player which could turn around the medical centre faster. However, we are uncertain of the expertise of Lim in the medical industry,' it said.
It said on Thursday, Aug 19 that it was revising higher its FV because it did not dismiss the possibility of the currently buoyant stock market sentiment.
Underpinning its higher FV and expectations of future corporate actions from the new shareholder Peter Lim Eng Hock, OSK Research said these factors would help to sustain TMC's share price at around the 52 sen transacted price.
Therefore TMC is unlikely to retrace much lower towards its previous 21 sen price target, it said.
'We had earlier speculated that the new shareholder could be a reputable industry player which could turn around the medical centre faster. However, we are uncertain of the expertise of Lim in the medical industry,' it said.
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