Maybank Investment Research has raised Sunrise to a Buy on visible earnings and attractive valuations.
It said on May 8 that Sunrise, with RM965 million unbilled sales excluding RM192 million new bookings in March-April 2009, earnings are visible over next two years.
“Sunrise trades at 5 times price-to-earnings ratio (PER) 0.8 times price/book (P/B) and a steep discount to our RM2.90 RNAV. Raised to Buy with Target Price of RM1.90,” it said in its research note.
No comments:
Post a Comment