Maybank IB upgrades CIMB to buy, ups target price to RM7.50

Cost management: CIMB is a stock loved by investors for its liquidity, but they are also quick to punish it at the slightest hint of bearish sentiment.

KUALA LUMPUR: Maybank Investment Bank Research has upgraded CIMB Group Holdings Bhd to a “buy” with a higher target price of RM7.50 from RM7 previously.

“Maybank said it has raised CIMB’s earnings after taking into consideration its recent upgrade of CIMB Niaga’s earnings forecasts and improved credit costs for CIMB Group into FY18.