AmInvestment Bank Research has maintained its “buy” call on the Numi Armada counter with an unchanged fair value of 59 sen based on a discount of 20% to the group’s sum-of-parts valuation of 73 sen per share.
PETALING JAYA: Bumi Armada Bhd
’s valuations at six times the financial year 2021 (FY21) price-to-earnings ratio compared to the FBM KLCI’s 17 times currently may be “unjustified”, given the significant improvement in its core earnings since stabilising Armada Kraken’s operations.
As such, AmInvestment Bank Research has maintained its “buy” call on the counter with an unchanged fair value of 59 sen based on a discount of 20% to the group’s sum-of-parts valuation of 73 sen per share.
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