Supermax Corporation Bhd (Symbol & Code: SUPERMX 7106) - Update 3rd October 2010

Posted by Daniel Wong | 11:22 PM | | 0 comments »


Fair Value: RM4.52

Current Price: RM 4.03
 
Recommendation: BUY

As the current market price is below my Fair Value, I'm upgrading my recommendation from Hold to Buy. However, I'm not sure if the market price will drop further from this price. I believe a strong bull sentiment on this stock will only come back when there is an increase in the next quarter earnings. Otherwise, the market price may drop further. But I don't expect the downtrend in quarterly earnings to last more than 1 year. Therefore, the best strategy will be to buy in stages.

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

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