KUALA LUMPUR: Hwang DBS Vickers Research (HDBSVR)said Evergreen Fibreboard's 4Q10 would likely be weak due to margin squeeze.
It said on Wednesday, Jan 19 it had reduced FY0F-12F earnings by 9%-15% but it expected better quarters ahead with higher MDF prices and normalised glue prices.
'Maintain Buy and RM2 TP. As the world's 5th largest producer, Evergreen Fibreboard is positioned to benefit from the global economic recovery, also among the cheapest MDF players at 6x FY11F EPS,' it said.
It said on Wednesday, Jan 19 it had reduced FY0F-12F earnings by 9%-15% but it expected better quarters ahead with higher MDF prices and normalised glue prices.
'Maintain Buy and RM2 TP. As the world's 5th largest producer, Evergreen Fibreboard is positioned to benefit from the global economic recovery, also among the cheapest MDF players at 6x FY11F EPS,' it said.
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