28 APRIL 2014www.theedgemalaysia.com
RHB Research maintains Buy on Press Metal, raises fair value to RM5.47
Edited by : AL CIRCLE
1 min read
RHB Research has maintained its Buy rating Press Metal Bhd with a higher fair value (FV) of RM5.47 (from RM4.11) and said the LME aluminium price has moved into a healthy consolidation after its recent surge, while its premium remains firmly at a record-high level - reinforcing that the aluminium market was bottoming out.
In anote Friday, the research house said it was timely for Press Metal’s smelters, which have reached full commissioning, to capitalise on this possible upturn.
“Maintain Buy, with a higher RM5.47 FV (versus RM4.11), at a 20% (from 40%) discount to its fully-diluted DCF,” it said.
In anote Friday, the research house said it was timely for Press Metal’s smelters, which have reached full commissioning, to capitalise on this possible upturn.
“Maintain Buy, with a higher RM5.47 FV (versus RM4.11), at a 20% (from 40%) discount to its fully-diluted DCF,” it said.
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