Keppel Telecommunications & Transportation rated 'outperform' by CIMB

Publish date: Thu, 21 Jul 2011, 11:05 AM
CIMB in a July 20 research report says: "2Q11 core net profit ($17.6 million, +27.8% y-o-y) came largely in line with our expectations. 1H11 core net profits formed 42% of our FY2011 estimates.

"Key variances came from (i) slightly lower-than-expected topline offset by lower-than-expected operating costs leading to higher-than-expected margins and (ii) higher-than-expected depreciation and interest expense. Therefore, we tweak our operating expense assumptions, leaving our FY2011-2013 estimates largely unchanged.

"However, our target price rises to $1.61 (from $1.57), still based on sum-of-the parts valuations, helped by M1's recent price increase. KPTT achieved record operating profit this quarter, which reflects success in its efforts to strengthen its core operations. MAINTAIN OUTPERFORM."
Discussions
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john_ric

it is a joke to rate KT&T as outperform. it has never perform over the last 2 years.

2011-07-24 00:44

prosperitycat

ariesa KepT&T is a hopeless counter. It never moves up even on good news. It used to move in tandem with Kep group but Kepland and Kep Corp has moved up and down many times While KepT&T is hibernating. Worse when market moves down, it goes down with it but not the other way around.Makes u wonder whether the price ising suppressed purposely by the BBs.

2011-08-15 20:01

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