KUALA LUMPUR: CIMB Research has initiated coverage on software solutions provider IFCA MSC Bhd
with an Add call, setting the target price at 78 sen based on 21 times 2016 price-earnings ratio – in line with domestic peers MyEG and Cuscapi.
It said potential catalysts for the stock include stronger-than-expected GST jobs, potential dividends and a move to the Main Board in 2016.
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