RHB Research Institute cut its call on Berjaya Sports Toto Bhd to "market perform" from "trading buy" on expectations that the gaming firm's growth is likely to moderate.
"Going forward, while we believe there would still be topline growth for BToto ... we believe this growth could begin to moderate," RHB said in a note on Wednesday.
The research house kept its target price at RM4.55 per share, adding that risks include the introduction of regulatory changes for the number forecast operation (NFO) industry to discourage gambling, or a gaming tax hike by the government.
Shares in Berjaya Sports Toto inched up 0.2 percent against the Malaysian benchmark stock index's 0.08 percent rise. -- REUTERS
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