KUALA LUMPUR: AmInvestment Bank Research remains "underweight" on Cahya Mata Sarawak Bhd
and lowered its target price following a steep 45% loss in market value since the start of the year, which renders it less investable to large institutional investors.
The research slashed its fair value on the stock by 20% to RM1.14 a share from RM1.42 previously, based on 8x FY21 forecast earnings per share.
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