KUALA LUMPUR: PADINI HOLDINGS BHD [] shares rose ''in early trade on Tuesday, May 31 after it posted stronger earnings in the third quarter ended March 31, 2011.
At 9.15am, Padini was up five sen to RM1.13 with 45,000 shares traded.
Inter-Pacific Research Sdn Bhd upgraded Padini to Outperform with its target price raised to RM1.21 (previously RM1.06) as it brought its valuation forward to FY12's EPS of 12.1sen ascribed to a PER of 10 times.
'We like Padini as it was able to avoid margins compression despite unfavorable raw material prices,' it said in a note May 31.
At 9.15am, Padini was up five sen to RM1.13 with 45,000 shares traded.
Inter-Pacific Research Sdn Bhd upgraded Padini to Outperform with its target price raised to RM1.21 (previously RM1.06) as it brought its valuation forward to FY12's EPS of 12.1sen ascribed to a PER of 10 times.
'We like Padini as it was able to avoid margins compression despite unfavorable raw material prices,' it said in a note May 31.
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