Stock Name: CIMB
Company Name: CIMB GROUP HOLDINGS BERHAD
RHB Research raised its rating on CIMB Group Holdings Bhd to 'buy' from 'trading buy' with the removal of political uncertainties after results from Malaysia's 13th general election came in late Sunday night.
"We think this eases the risks of cancellations and changes to the terms of big-ticket projects, and it will help remove the uncertainties that may have impacted investment spending decisions," RHB said in a report on Monday.
The brokerage raised its fair value for CIMB to RM9.90 from RM8.70.
The ruling coalition, Barisan National, won 133 out of 222 parliamentary seats contested.
Shares of CIMB rose as much as 14.3 per cent to a 22-month high of RM8.70, while the benchmark index reached an all-time high.-- Reuters
Company Name: CIMB GROUP HOLDINGS BERHAD
| Research House: RHB | Price Call: BUY | Target Price: 9.90 |
RHB Research raised its rating on CIMB Group Holdings Bhd to 'buy' from 'trading buy' with the removal of political uncertainties after results from Malaysia's 13th general election came in late Sunday night.
"We think this eases the risks of cancellations and changes to the terms of big-ticket projects, and it will help remove the uncertainties that may have impacted investment spending decisions," RHB said in a report on Monday.
The brokerage raised its fair value for CIMB to RM9.90 from RM8.70.
The ruling coalition, Barisan National, won 133 out of 222 parliamentary seats contested.
Shares of CIMB rose as much as 14.3 per cent to a 22-month high of RM8.70, while the benchmark index reached an all-time high.-- Reuters
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