MIDF Research retains neutral on PIE Industrial, TP RM1.20

MIDF Research said as movement restrictions have eased further since June, PIE Industrial is now running their production at full capacity as their workforce has increased back to pre-MCO level.

KUALA LUMPUR: MIDF Research is maintaining its neutral outlook on electronics manufacturing services (EMS) company PIE Industrial Bhd with a target price (TP) of RM1.20.

It said on Monday its TP is premised by pegging its FY20EPS of 8.79 sen to price-to-earnings ratio (PER) of 13.7 times (from previous 13 times) which is about one time standard deviation 1.0 time premium to the group’s two-year historical average.