The research house said that its target price continues to be derived from ascribing unchanged target price-earnings ratios of 3.5 times and four times to its 2011 tile manufacturing and biaxial-oriented polypropylene film (BOPP) business respectively.
"We raised Seacera's recommendation to 'Buy' given the improving earnings visibility of its tile manufacturing division when its capacity expansion exercise is completed in the fourth quarter of 2010," S&P said.
S&P is also positive on Seacera's diversification into property development, which will add resilience to the latter's future earnings.
- by Business Times
No comments:
Post a Comment