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[MMODE] Mmode latest PE below 5, new TP=44sen

Mmode Q2 2011 financial performance excellent
1)Latest EPS = 2.34
2)Acc EPS = 0.57+0.59+1.97+2.34 = 5.47 sen
3)Latest price 26.5 sen
4)PE = Price/Acc EPS = 26.5/5.47 = 4.84
5)TP = 8X Acc EPS = 8(5,47) = 44 sen

M-Mode Berhad - The next super star
Mmode Vs Digistar
Since Digistar is the best benchmark counter compare to another counter, this is the comparisn between Mmode and Digistar

Counters Financial performance Acc EPS
Q3 2010 Q4 2010 Q1 2011 Q2 2011
MMode 0.57 0.59 1.97 2.34 5,47
Digistar 0.62 2,38 2.31 2.30 7.61
1.00 6.31

Counters Acc EPS Target Price Price Premium

MMode 5,47 43.8c 28,5c 53.7%
Digistar 7.61 60.9c 44.5c 36,9%
6.31 50.5 13.5%

If Digistar still can maintain their performance this quarter same as previous quarter at EPS 2.30, then their target price is 61sen, but if not it will be worst. Let say their Q2 2011 Eps only at 1sen per share, then their target price is 51sen only.
Base on both financial performance Mmode still a premium of 53.7% compare to only 36.9% for Digistar.

Mmode core business model is different with Digistar. It is hard to compare with apple vs orange. However, it might use relative strength to see the performance.
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