KUALA LUMPUR: CIMB Equities Research is maintaining its Reduce recommendation on Hovid as it is trading above its target price of 41 sen. The last traded price was 42 sen.
The research house said on Wednesday despite the recent correction in its share price, Hovid still trades at 18.9 times CY15 P/E, close to its regional peers’ average despite its smaller market cap.
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