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Tóm tắt:
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MBKE's FY12 estimates are unchanged, but we raise our FY13 revenue and EPS forecasts 5% and 15% respectively to reflect the Pocky deal. Valuation of around 10x FY13 PER is a 17% discount to its regional peers and CEO Mr. Tran Le Nguyen recently registered to buy 3m shares which would raise his ownership stake from 7% to 9%. Upgrade to BUY.
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