Kenanga maintains Underperform on Pantech

KUALA LUMPUR: Kenanga Research is maintaining a ‘underperform’ call on Pantech Group Holdings Bhd (Pantech) with a target price of RM0.74, based on calendar year 2016 with a price to earnings ratio of nine times.

The research house said on Monday Pantech’s fourth quarter ended Feb 28, 2015 results were within its expectations as its net profit of RM43.7mil was only 5% below estimate.