KUALA LUMPUR: Affin Research has maintained its Buy call on Ta Ann with a target price of RM5.12 and valued its timber division at 10 times FY15E PE, and the plantation division at 15 times.
In a note on Tuesday, the research house said Ta Ann’s 2Q14 revenue increased by 16% on-quarter to RM245.8mil, attributable to 6.5% and 33.6% on-quarter increase in contribution from timber and palm oil divisions respectively.
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