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AEM kept at ‘add’ by CIMB as earnings outlook stays strong

PC Lee
PC Lee11/6/2017 3:43 PM GMT+08  • 2 min read
AEM kept at ‘add’ by CIMB as earnings outlook stays strong
SINGAPORE (Nov 6): CIMB is leaving its forecasts for AEM Holdings unchanged and maintaining its “add” with a $4.55 target price based on 10 times FY19 earnings.
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SINGAPORE (Nov 6): CIMB is leaving its forecasts for AEM Holdings unchanged and maintaining its “add” with a $4.55 target price based on 10 times FY19 earnings.


See: AEM's 3Q earnings up more than fourfold at $9.4 mil on more than double revenue

This comes on the back of a 173% rise in revenue and a 321% rise in net profit in 3Q17. “We deem AEM’s 3Q17 net profit at 83% of full-year forecasts in line with our expectations,” says analyst William Tng in a Friday report.

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