KUALA LUMPUR: OSK Research said PBA HOLDINGS BHD []'s 1QFY11 earnings beat its estimates with profits accounting for a third of its full year forecast.
'Higher earnings in this case is driven mainly on higher tariff rates chargeable to trade consumers coupled with the increase of registered trade consumers on a y-o-y basis,' it said.
OSK Research said on Tuesday, May 24 it raised its profit estimates to account for the higher earnings base.
'We also raise our FV for the stock to RM1.35 from RM1.22 previously. We re-iterate our BUY recommendation for the stock. We also raise our dividend estimate for PBA to five sen per share from four sen per share,' it said.
'Higher earnings in this case is driven mainly on higher tariff rates chargeable to trade consumers coupled with the increase of registered trade consumers on a y-o-y basis,' it said.
OSK Research said on Tuesday, May 24 it raised its profit estimates to account for the higher earnings base.
'We also raise our FV for the stock to RM1.35 from RM1.22 previously. We re-iterate our BUY recommendation for the stock. We also raise our dividend estimate for PBA to five sen per share from four sen per share,' it said.
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