AFG above $3.50 by 28-Feb-2011

  • target price: $3.50 ( 10.76 % in 52 days)
  • price when predicted: $3.16
  • current price: $3.74
  • 2429 days pass target date.
price catch-up with peers.
expected to announce better results for 3rd Q.
low (0.35) PEG.
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damn.... i must get my timings right....

anyway... now what is the TP ?
by my guesstimation,
FYE 03/2010: EPS @ RM0.267 NTA @ 2.17

AFG current price @ RM3.71;
PE=13.9 ; PB ratio=1.7X

This Group is ripe for M&A activity + it has a decent profit run. On the basis that we take previous year's EPS and take the average industry PE of 15X, AFG share price ~ RM4.00.
NTA improve to RM2.43, PB ratio=1.7, AFG TP ~ RM4.13

so.. RM4.00 to RM4.13

any comments ?
If the M&A succeed.. It might go above 4..
Actually I also deduced this share will climb on M&A speculation. But nothing concrete has emerged yet, and news remain quiet for long, the speculators will exit. Check out MNRB and Affin as well. And I think there may be some M&A play on Kurasia too, observing its trading patterns lately.
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