Pawed by the Bears
Consequently, our earnings forecasts for KepLand are reduced by 14.5%,
16% and 21% respectively. We are revising our target price to $4.27,
based on a 40%-discount to the FY09 RNAV (consistent with the trough
discount in 2002). While we believe in the viability of KepLand’s long-term
strategies that have been put in place, its near-term outlook remains
weak. Downgrade to a HOLD.
Price $3.60
Target $4.27
ST Index 2,626.05
if their target price is 4.27 , and current price is 3.60 then how come a hold and not a buy ?
Consequently, our earnings forecasts for KepLand are reduced by 14.5%,
16% and 21% respectively. We are revising our target price to $4.27,
based on a 40%-discount to the FY09 RNAV (consistent with the trough
discount in 2002). While we believe in the viability of KepLand’s long-term
strategies that have been put in place, its near-term outlook remains
weak. Downgrade to a HOLD.
Price $3.60
Target $4.27
ST Index 2,626.05
if their target price is 4.27 , and current price is 3.60 then how come a hold and not a buy ?
