Coastal Contracts Bhd (Symbol & Code: COASTAL 5071) Update - 11th June 2010

Posted by Daniel Wong | 2:05 PM | | 0 comments »

Fair Value: RM 2.57

Current Price: RM 2.31

Recommendation: BUY

On the 25th May, the company announced its 1st Quarter report for Financial Year 2010. Profit for 1Q10 has increased 55.97% compared to the 1Q09. However, the 1Q10's profit has decreased 19.85% compared to 4Q09. Therefore, I'm revising the Fair Value to RM2.57 from RM2.97 in anticipation of a downtrend in the next 3 quarters' earnings.

Refer to previous write-up here for more info on this company

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