Stock Name: RHBCAP
Company Name: RHB CAPITAL BHD
Research House: MIDF
KUALA LUMPUR: RHB CAPITAL BHD [] shares rose on Friday, June 17 on reports that Abu Dhabi Commercial Bank (ADCB) has received''the green light from Bank Negara to sell its 25% stake in RHB Capital Berhad (RHB) to sister company Aabar investment PJSC.
RHB Capital was up seven sen to RM9.91 at 9.30am with 157,300 shares traded.
MIDF Research has maintained its Neutral recommendation on the stock but raised its target price to RM10.40 (from RM9.90 previously) based on a EPS forecast for FY11 of 75.8 sen pegged''to 13.7 times PER.
'PER of 13.7 times''is''the high side of 3 years PE band. Our target price also implies FY11 P/BV of 2.11 times,' it said in a note June 17.
Company Name: RHB CAPITAL BHD
Research House: MIDF
KUALA LUMPUR: RHB CAPITAL BHD [] shares rose on Friday, June 17 on reports that Abu Dhabi Commercial Bank (ADCB) has received''the green light from Bank Negara to sell its 25% stake in RHB Capital Berhad (RHB) to sister company Aabar investment PJSC.
RHB Capital was up seven sen to RM9.91 at 9.30am with 157,300 shares traded.
MIDF Research has maintained its Neutral recommendation on the stock but raised its target price to RM10.40 (from RM9.90 previously) based on a EPS forecast for FY11 of 75.8 sen pegged''to 13.7 times PER.
'PER of 13.7 times''is''the high side of 3 years PE band. Our target price also implies FY11 P/BV of 2.11 times,' it said in a note June 17.
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