Coastal Contracts Bhd (Symbol & Code: COASTAL 5071) Update - 31st Aug 2010

Posted by Daniel Wong | 2:10 AM | | 0 comments »

Fair Value: RM 2.57

Current Price: RM 2.22

Recommendation: BUY

On the 24th of Aug, the company announced its 2nd Quarter report for Financial Year 2010. Profit for 2Q10 has increased 11.47% compared to the 1Q10. However, the 2Q10's revenue continue to be in the downtrend since 1Q10. I'm maintaining a cautious outlook on the company's profit due to the slow global economic recovery. Therefore, I'm maintaining the Fair Value at RM2.57. As the current market price is below the Fair Value, I'm maintaining a Buy recommendation for the long term.

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

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