Hi guys, just wanted to update my call on Kuala Lumpur Kepong. This will be a brief update on its share price performance and its peers only since there wasn’t much happening in the past month. Please find my original coverage report here and 12 July Update here . My latest Excel Kuala Lumpur Kepong Model v15 (Updated 12 July 2017)
Maintain SELL at TP of RM21.42
KLK’s share price has been flat for the month of July to August. Its monthly, YTD and Coverage (coverage began at 6 June 2017) returns are at -0.1%, 3.1% and -0.5%. Share price barely moved out from the RM24.6 – RM24.8 range with an average of RM24.74. It currently trades at RM24.74 with a P/E of 20.6, while its competitors trade at an average of 13.4. KLK actually has the highest YTD return out of its competitors with an average of -5.3%.
There has not been any update on analyst recommendation with an average TP of RM25.96 with an implied P/E of 21.63. I am maintaining my valuation at RM21.42 with a recommendation to SELL.