KUALA LUMPUR: MIDF Research is maintaining its neutral outlook on electronics manufacturing services (EMS) company PIE Industrial Bhd
with a target price (TP) of RM1.20.
It said on Monday its TP is premised by pegging its FY20EPS of 8.79 sen to price-to-earnings ratio (PER) of 13.7 times (from previous 13 times) which is about one time standard deviation 1.0 time premium to the group’s two-year historical average.
The research house estimated PIE’s dividend yield at 3.6% and it expected the group’s healthy cash balance of about RM155.6mil as of end-June will be able to assist the group to overcome any short-term headwinds
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