[ET Net News Agency, 23 August 2019] HSBC Global Research raised its target price for
Agile Group (03383) to HK$11.5 from HK$10.4 and upgraded its rating to "buy" from "hold"
on valuation.
The research house said the stock has corrected 22% from the recent peak in April and is
trading at an appealing valuation level - a 70% discount to NAV and 5.8x/3.7x 2019/20 PE,
being among the cheapest in our mid-cap universe.
While the 1H results had some negatives - lower margin and helped by one-off disposal
gain - the key positive surprise was the dividend uplift where DPS grew 20%. The implied
yield is attractive at 5.8%.
HSBC added that Agile has continued to invest in diversified businesses which delivered
strong revenue growth in 1H, albeit from a low base - contribution to the top line
increased by 2ppt to 9%. (KL)
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Super Quote | Detail Quote | Interactive Chart | Transaction | Related News | Related Securities | Company Information | Dividend Records | Short Sell
03383 AGILE GROUP
Nominal 
0.430 0.000 (0.000%) Others
23/08/2019 11:19
{I-bank focus}HSBC upgrades Agile Group (03383) to HK$11.5
| Remark: | Real time quote last updated: 25/04/2024 08:50 |
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