Stock Name: PBBANK
Company Name: PUBLIC BANK BHD
RHB Research downgraded Public Bank Bhd to 'neutral' from 'buy', citing limited upside expectations on the country's third-largest lender by assets.
"We think much of the positives have already been reflected at the current price level, thus limiting further upside potential," RHB said in a note to clients on Wednesday.
Public Bank's first-quarter results in its financial period ended March 31 held no major surprises and suggests that the group is on track to meet its 2013 targets, RHB added.
The research house kept its fair value on the stocks of the lender at RM16.80.
Shares of Public Bank were up 0.12 per cent against the benchmark index's 0.23 climb.-- Reuters
Company Name: PUBLIC BANK BHD
| Research House: RHB | Price Call: HOLD | Target Price: 16.80 |
RHB Research downgraded Public Bank Bhd to 'neutral' from 'buy', citing limited upside expectations on the country's third-largest lender by assets.
"We think much of the positives have already been reflected at the current price level, thus limiting further upside potential," RHB said in a note to clients on Wednesday.
Public Bank's first-quarter results in its financial period ended March 31 held no major surprises and suggests that the group is on track to meet its 2013 targets, RHB added.
The research house kept its fair value on the stocks of the lender at RM16.80.
Shares of Public Bank were up 0.12 per cent against the benchmark index's 0.23 climb.-- Reuters
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