KUALA LUMPUR: CIMB Equities Research has initiate coverage on Berjaya Auto with an Add call and a target price of RM4.44.
It said on Tuesday, the target price was 35.4% above the last traded price of RM3.28. It added the valuation was based on 14.0 times CY16 P/E, attaching a 10% premium over its peers' P/E average, due to its relatively higher growth trajectory.
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