CIMB Equities Research is retaining its Add call for Heineken Malaysia which continues to be its sector top pick as it expects the group to maintain its dominance in Malaysia’s malt liquor market (MLM) and earnings growth to be driven through continuous efforts to optimise efficiency and production.
It said on Thursday dividend yields also remain attractive at 5.5%-5.8%. It also retained its earnings forecasts pending further updates on any potential price increases.
“Hence, no change to our Add call and dividend discount model-based target price of RM16.10. Risk to our view is a drop in malt liquor market (MLM) volumes,” it said.
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It said on Thursday dividend yields also remain attractive at 5.5%-5.8%. It also retained its earnings forecasts pending further updates on any potential price increases.
“Hence, no change to our Add call and dividend discount model-based target price of RM16.10. Risk to our view is a drop in malt liquor market (MLM) volumes,” it said.
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