Friday, April 8, 2011

OSK Research maintains Buy on Ajiya, FV RM2.25

KUALA LUMPUR: OSK Research said although Ajiya's management is of the view that higher operating costs and competition will erode the company's earnings performance this year, the macro fundamentals suggest otherwise.

It said on Friday, April 8 with the Government's Economic Transformation Plan adding some spark to the building materials sector, and hence benefiting the company.

'Slightly lowering our estimates on conservatism, we maintain our BUY recommendation on the stock with a revised FV of RM2.25,' it said.

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