As readers would know that ever since I posted my buy recommendation on Carimin, it has shot through the sky like an unstoppable rocket.
Many of my followers have asked me what is my target price.
Yesterday Carimin shot up 11.5 sen from 60 sen, 19 percent in 1day with 22.3 million shares changed hands. This huge volume shows that many well-informed institutional investors are buying so aggressively.
Many of my followers asked me what is my target price. Just based on its 1 quarter eps 5 sen X 4 q equal 20 sen.
Conservatively my target price is Rm 2, selling at PE 10.
I can imagine those smart investors can easily foresee that it can easily earn 20 sen per year. By the end of February when it's 2nd quarter profit is announced, investors can easily foresee its future and chase to buy up to Rm 2 which is my immediate target price.
I am obliged to inform you that Carimin is my major investment and I do not need you to buy to support the price because there are many institutional buyers. That is why the daily volume exceed 20 million shares and the price continues to move higher and higher.