Friday, December 2, 2011

TSH falls after 1-for-1 bonus, OSK Research FV RM2.21

KUALA LUMPUR (Dec 2): Shares of TSH RESOURCES BHD [] fell to a low of RM1.90 on Friday after its bonus shares, which were issued on a one-for-one basis, went ex.

At 12.08pm, it was down eight sen to RM1.91. There were 513,100 shares done at prices ranging from RM1.90 to RM2.01.

OSK Research said that following its calendar year 2012 crude palm oil (CPO) price assumption upgrade to RM3,000 per tonne, it was raising its FY12 earnings forecast for TSH by 10.4% and revising upwards its fair value to RM2.21.

'The company possesses one of the youngest tree age profiles among planters under our coverage, but its valuations are starting to appear a little rich following its recent strong price appreciation. Still a BUY at the moment with a potential 10.8% upside,' it said.


No comments:

Post a Comment