CGS-CIMB Research ups end 2020 KLCI target to 1,628

“For our top three picks, we replace Tenaga and MPI with Telekom and Inari, while retaining Public Bank," CGS-CIMB Research said.

KUALA LUMPUR: CGS-CIMB Equities Research raised its end-2020F FBM KLCI target to 1,628, which is based on 15.4 times price-to-earnings (P/E), its earlier target of 1,520 as the ratio of outperformers improved significantly.

In its strategy report issued on Wednesday, it introduced its end-2021F KLCI target of 1,732 which is based on 16.2 times P/E.