wazua Wed, Mar 18, 2026
Welcome Guest Search | Active Topics | Log In

136 Pages123>»
KCB buy buy buy
Options
Previous Topic · Next Topic
gesowan
#1 Posted : Thursday, May 16, 2013 5:10:43 AM
Rank: Member

Joined: 11/6/2010
Posts: 289
Reiterate BUY — new TP Ksh51.00: our forecast trim is more than compensated by changes in macro related valuation assumptions as we cut our risk-free rate by 50bps to 9.25%, which leaves us with a new target price of Ksh51.00 (Ksh41.00 previously). At FY13E P/E of c.9.5x and P/B of c2.1x, we could accept some room for debate on KCB’s multiples, which we believe our conservative estimates should help set aside. We continue to see value in the stock at these levels and reiterate our BUY recommendation.


AS advised by the experts
Back to top
  |
Cde Monomotapa
#2 Posted : Thursday, May 16, 2013 7:28:05 AM
Rank: Chief

Joined: 1/13/2011
Posts: 5,964
gesowan wrote:
Reiterate BUY — new TP Ksh51.00: our forecast trim is more than compensated by changes in macro related valuation assumptions as we cut our risk-free rate by 50bps to 9.25%, which leaves us with a new target price of Ksh51.00 (Ksh41.00 previously). At FY13E P/E of c.9.5x and P/B of c2.1x, we could accept some room for debate on KCB’s multiples, which we believe our conservative estimates should help set aside. We continue to see value in the stock at these levels and reiterate our BUY recommendation.


AS advised by the experts

Interesting. In total agreement on the 'macro related valuation' bit as it is only fair to say that work in KE fully* kicked off post-April. Banking & the general econ. will be best measured after Q3, 2013.
Back to top
  | | Edit by user: Thursday, May 16, 2013 7:31 AM | Reason: Rooarr!!
Cde Monomotapa
#3 Posted : Thursday, May 16, 2013 7:34:55 AM
Rank: Chief

Joined: 1/13/2011
Posts: 5,964
Btw, KCB is set to recieve a further $150M from IFC for on-lending if I recall well. Combine that resource boost with ongoing 'lean-mean' initiatives &...#static#
Back to top
  | | Edit by user: Thursday, May 16, 2013 7:36 AM | Reason: Rooarr!!
Mukiri
#4 Posted : Thursday, May 16, 2013 10:21:17 AM
Rank: Elder

Joined: 7/11/2012
Posts: 5,222
@Hisah said something about Equity being a better bargain?d'oh!

Proverbs 19:21
Back to top
  |
Ericsson
#5 Posted : Thursday, May 16, 2013 6:57:40 PM
Rank: Elder

Joined: 12/4/2009
Posts: 10,804
Location: NAIROBI
KCB has also made it big in the real estate sector with this deal as the project financier;
http://www.nation.co.ke/...50/-/lowrwf/-/index.html
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
Back to top
WWW
  |
mwekez@ji
#6 Posted : Friday, May 17, 2013 9:11:26 AM
Rank: Chief

Joined: 5/31/2011
Posts: 5,121
Mukiri wrote:
@Hisah said something about Equity being a better bargain?d'oh!


From a traders perspective, @hisah has it
Back to top
  |
Ericsson
#7 Posted : Friday, May 17, 2013 9:25:22 AM
Rank: Elder

Joined: 12/4/2009
Posts: 10,804
Location: NAIROBI
In FY2013 KCB will trump Equity in terms of profitability.
Hstorically equity beats KCB in the Q1 but in the remaining quarters KCB takes the mantle.
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
Back to top
WWW
  |
hisah
#8 Posted : Friday, May 17, 2013 10:06:48 AM
Rank: Chief

Joined: 8/4/2010
Posts: 8,977
mwekez@ji wrote:
Mukiri wrote:
@Hisah said something about Equity being a better bargain?d'oh!


From a traders perspective, @hisah has it

Boarded @28.50 after dumping KCB @38.50 on result release. I expected at least a 2/- div pay and 1.95 was not a good sign. I expect member to pay more div than simba plus outperform it as the most profitable bank. That should see member's share price post higher capital gains than simba. Then add the div pay. Already simba has stated no more fat div pays.
$15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
Back to top
  | | Edit by user: Friday, May 17, 2013 10:08 AM | Reason: Not specified
mwekez@ji
#9 Posted : Friday, May 17, 2013 10:08:17 AM
Rank: Chief

Joined: 5/31/2011
Posts: 5,121
Ericsson wrote:
In FY2013 KCB will trump Equity in terms of profitability.
Hstorically equity beats KCB in the Q1 but in the remaining quarters KCB takes the mantle.


@Ericsson, in that history, KCB only beat Equity in Q2 and Q3, .... Equity beat KCB in Q1, Q4 and FY2012. .... So, using your logic, in FY2013, just like in FY12, EQUITY should trump KCB in terms of profitability.
Back to top
  |
KulaRaha
#10 Posted : Friday, May 17, 2013 10:18:30 AM
Rank: Elder

Joined: 7/26/2007
Posts: 6,514
I understand the new MD spends his time walking around threatening to fire everyone...there's even grafitti in the loos saying "you're fired".

I wonder how this new style of management will affect results...
Business opportunities are like buses,there's always another one coming
Back to top
  |
136 Pages123>»
Forum Jump  
You cannot post new topics in this forum.
You cannot reply to topics in this forum.
You cannot delete your posts in this forum.
You cannot edit your posts in this forum.
You cannot create polls in this forum.
You cannot vote in polls in this forum.

Wazua Investor Theme
Powered by YAF | YAF © 2003-2009, Yet Another Forum.NET
Copyright © 2026 Wazua.co.ke. All Rights Reserved.