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| Symbol(s): |
AMAT.BK |
| Date: |
4-Nov-09 |
| Author: |
Mr. KASEM PRUNRATANAMALA |
| Contributor: |
CIMB_GK Research Pte Ltd. |
| Title: |
Amata Corporation - Challenging year ahead |
| Document Size: |
8 pages |
| Price: |
$25 |
| Document Type: |
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| Valuation and recommendation Maintain Underperform, but with higher THB7.74 target price (from THB4.20). Amata is trading at 50x CY10 P/E and 1.6x CY10 P/BV. Such valuations are well above its 5-year average historical P/E of 22x, though still below its 5-year historical average P/BV of 2.9x. Its share price has recovered very rapidly in this downturn, compared with the last one. Since its earnings are not expected to bounce back to pre-crisis levels anytime soon, P/E valuations may not be very...
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