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 INARI 0166 INARI AMERTRON BERHAD offering attractive dividend yield, says PublicInvest

KUALA LUMPUR (Sept 6): PublicInvest Research has maintained its “outperform” rating of Inari Amertron Bhd at RM2.66, with a target price (TP) of RM4.13, and said despite seeing flattish growth in radio frequency (RF) components, the group is expecting to see FY23 sales growth coming from: i) fibre transceiver modules; ii) high-power LED packages for the optical communications, automotive and industrial segments; and iii) system-on-modules (SOMs).

In a note on Tuesday (Sept 6), the research house said that following the recent selldown, the stock is now offering an attractive dividend yield of 3.8% (annual dividend payout: more than 80%), and is currently trading closer to -1 standard deviation long-term average at 23 times earnings multiple.

“We maintain 'outperform' call with an unchanged TP of RM4.13 based on 35 times FY23 EPS,” it said.

http://www.theedgemarkets.com/article/inari-offering-attractive-dividend-yield-says-publicinvest

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