Stock Name: CIMB
Company Name: CIMB GROUP HOLDINGS BERHAD
Alliance Research has maintained its "neutral" call for CIMB Group, with unchanged RM7.81 target price, based on a 15 per cent discount to its Gordon Growth valuation model.
The reseach house said the group's upside share price will be capped by ongoing external uncertainties due to its vast regional footholds and potential foreign selldown due to high foreign shareholdings and election risk.
Meanwhile, Hong Leong Investment Bank (HLIB) Research placed a "hold" call, with the target price maintained at RM7.78 on CIMB Group.
HLIB Research said among the positives for the group are robust prospects of Indonesia's banking industry, growing regional universal bank platform and proxy to growth and the capital market.
However, it said the bank's non-interest income may fall short if capital markets softened. -- BERNAMA
Company Name: CIMB GROUP HOLDINGS BERHAD
| Research House: ALLIANCE | Price Call: HOLD | Target Price: 7.78 |
Alliance Research has maintained its "neutral" call for CIMB Group, with unchanged RM7.81 target price, based on a 15 per cent discount to its Gordon Growth valuation model.
The reseach house said the group's upside share price will be capped by ongoing external uncertainties due to its vast regional footholds and potential foreign selldown due to high foreign shareholdings and election risk.
Meanwhile, Hong Leong Investment Bank (HLIB) Research placed a "hold" call, with the target price maintained at RM7.78 on CIMB Group.
HLIB Research said among the positives for the group are robust prospects of Indonesia's banking industry, growing regional universal bank platform and proxy to growth and the capital market.
However, it said the bank's non-interest income may fall short if capital markets softened. -- BERNAMA
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