Swift Haulage Berhad: Anticipating better 2HFY24
Tue, 14-May-2024 07:33 am
by Jayden Tan • Apex Research

Counter

SWIFT (5303)

Target Price (RM)

0.68

Recommendation

Buy

• SWIFT’s 1QFY24 core net profit RM8.2m came within our expectations.

• We remain optimistic over the Group’s development over the long run from growing capacity, poised to benefit from the improved throughput.

• Maintain our BUY recommendation with lower target price of RM0.68 by pegging PE multiple of 10x to FY25F EPS of 6.8 sen as the revision of PER assigned is in line with lower historical mean.

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Opinions, estimates and projections in this report constitute the current judgment of the author. They do not necessarily reflect the opinion of Apex Securities Berhad and are subject to change without notice. Apex Securities Berhad has no obligation to update, modify or amend this report or to otherwise notify a reader thereof in the event that any matter stated herein, or any opinion, projection, forecast or estimate set forth herein, changes or subsequently becomes inaccurate.

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Market Mover
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