OSK Research had a buy on Lion Industries with fair value of RM2.11, while other Buys were Southern Steel and Masteel, with 12-month target prices of RM2.12 and RM1.20 respectively.
It maintained its Trading Buy for Perwaja with a fair value of RM1.78. Despite upgrading our valuation parameter to 8x FY10 EPS and +1 standard deviation of historical trading range.
The fair value for Ann Joo and Kinsteel of RM2.02 and 91 sen respectively only justified its Neutral recommendation.
Lion Ind, S. Steel, Masteel to benefit from steel demand recovery
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Friday, July 24, 2009
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