AmInvest Research retains end-2021 KLCI target of 1, 695

AmInvest Research holds the view that the underperformance of the local market in 1H21 (due to the resurgence in Covid-19 infections) makes it an even more compelling recovery play in 2H21.

KUALA LUMPUR: AmInvestment Research is maintaining its end-2021 FBM KLCI target of 1, 695 based on 16 times its 2021F earnings projection (+56.7%).

In its strategy note on Wednesday, it said the target was at a discount to its five-year historical average of 18 times.