CIMB Group Holdings: Maintain Sell - Minimal impact from Indon guidelines

Date: 
2012-03-22
Firm: 
MAYBANK
Stock: 
CIMB
Price Target: 
6.80
Price Call: 
SELL
Last Price: 
8.38
Upside/Downside: 
-1.58 (18.85%)
Manageable. Any impact from Bank Indonesia's recent guidelines is likely to be confined mainly to CIMB Niaga's vehicle financing segment and we do not see a significant slowdown in its loan growth as such. We think the overall earnings impact will be minimal at the CIMB group level and our forecasts are maintained. Sell and RM6.80 TP maintained (target P/BV of 1.9x, 2012 ROE: 16.1%).


Maybank Research 22 March 2012

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Discussions
Be the first to like this. Showing 3 of 3 comments

mm310

seems that Maybank is the only research house who call for SELL for CIMB...

2012-03-23 09:56

Jake

Sell call on competitor company mah?

2012-03-23 10:17

WONG TONG GUAN

If good forecast, ppl sell Maybank then buy CIMB.

2012-03-23 11:18

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