As such, Phillip has forecasted FY18E dividends of 2.5 cents, higher than FY17’s dividends of 2 cents, and maintains its view of the counter as a yield play.
SINGAPORE (May 7): Phillip Capital continues to rate Nam Lee Pressed Metal Industries at “buy” with an unchanged target price of 56 cents, which represents an implied 11.9 times FY18E forward P/E multiple and 0.97 times FY18E forward P/B multiple.
Following strong revenue growth but weaker-than-expected PATMI over 1H18, the research house has tweaked its FY18E revenue upwards by 8.1% and lowered its forward PATMI over the same period by 6.9% from previous estimates.
