KUALA LUMPUR: Hwang DBS Vickers Research (HDBSVR)expects the FBM KLCI to reach new high with end-2011 target of 1,730.
It said on Wednesday, Jan 5 the positive domestic factors will drive further upside and create excellent stock opportunities
'High conviction picks: Maybank, Gamuda, Boustead Holdings, DRB-Hicom,' it said.
As for banks, it has a Buy on CIMB at RM8.62; Price Target: RM10.10.'' It expects CIMB to benefit from the capital markets.
'CIMB is a capital market key proxy with a strong deal pipeline going into 2011. New dividend policy to be revealed with 4Q10 results,' it said.
As for RHB is maintaining a Buy and'' RM10.10 TP, implying 2.7x CY11 BV; cheaper alternative to Indonesia banks.
'Earnings driven by loan growth and capital markets; asset quality continues to improve. Attractive valuations position it as a prime M&A candidate, in our opinion,' it said.
It raised the price target for Maybank to RM10.80 as it expects it to benefit from robust loan growth driven by domestic and regional contributions; positive flow from non-interest income.
It said on Wednesday, Jan 5 the positive domestic factors will drive further upside and create excellent stock opportunities
'High conviction picks: Maybank, Gamuda, Boustead Holdings, DRB-Hicom,' it said.
As for banks, it has a Buy on CIMB at RM8.62; Price Target: RM10.10.'' It expects CIMB to benefit from the capital markets.
'CIMB is a capital market key proxy with a strong deal pipeline going into 2011. New dividend policy to be revealed with 4Q10 results,' it said.
As for RHB is maintaining a Buy and'' RM10.10 TP, implying 2.7x CY11 BV; cheaper alternative to Indonesia banks.
'Earnings driven by loan growth and capital markets; asset quality continues to improve. Attractive valuations position it as a prime M&A candidate, in our opinion,' it said.
It raised the price target for Maybank to RM10.80 as it expects it to benefit from robust loan growth driven by domestic and regional contributions; positive flow from non-interest income.
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