Evergreen Fibreboard (RM1.55; Buy; Price Target: RM2.10; EVF MK) Another solid quarter

Another solid quarter
• 2Q10 earnings grew 10% q-o-q, in line with our recently
increased net profit forecast but above consensus
• Earnings were mainly driven by higher MDF sales volume
• Maintain Buy with RM2.10 TP based on 1.2x FY11F BV.