MST Golf’s earnings in the short term will be affected by the shortfall of wholesale revenue thus we revise our FY23 and FY24 earnings forecasts downwards by 12.9% and 10.1% to RM29.7 and RM35.8 respectively. Nonetheless, the company's fundamentals remain strong, with ongoing local and regional expansions. Despite the adjustments, the stock still offers a potential upside of 24.6% supported by double digit earnings growth. BUY with a TP of RM0.71 based on 16x PER (20% discount to its listed peers on Bursa Malaysia)

If they include Sports Direct in, then maybe can consider this counter. The fact that despite its the same owner but only list their golf business is questionable. Is Sports Direct using MSTGolf resources, such as employee/store room etc?

今日关注对象：MSTGOLF (5316)

支撑/阻力：RM0.49 / RM0.525

点评：MSTGOLF自从建了个底部之后，走势也比较稳健了。IPO价钱是RM0.81，现在只有RM0.52而已。目前MACD及股价是背离的，代表卖压已经下滑了很多，banker chip也逐渐开始有迹象。支撑位在RM0.49，接下来的走势尤为关键，要看能不能走出底部。

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