Brokers' take
Nam Lee Metal | Buy Nov 29 close: S$0.39 Target price: S$0.56 Phillip Securities Research, Nov 29
Net cash (cash less total borrowings) of S$40.8 million represents 42 per cent of market capitalisation. We continue using the current-asset value (current assets less total liabilities) of 37.4 cents a share to demonstrate the limited downside risk.
The outlook is stable to positive. The tone of management commentary is now more upbeat compared to previous quarters, mentioning that the recovery in the US economy could have a positive impact on the aluminium industrial product business. This refers to the aluminium frames for container refrigeration units.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
S&P slashes Boeing credit outlook as rating hovers above junk status
Honda to spend US$11 billion on EV strategy in Canada
GlaxoSmithKline sues Pfizer and BioNTech over Covid-19 vaccine technology
Mapletree Industrial Trust Q4 DPU rises 0.9% to S$0.0336
Nasdaq’s profit falls as shaky economy keeps IPO revival elusive
iFast Q1 net profit surges on ePension unit performance