PETALING JAYA: Maybank Investment Bank (IB) Bhd has downgraded RHB Capital Bhd's shares from “buy” to a “hold” despite several research houses maintaining their bullish outlook for the counter.
Maybank IB Research said it lowered its rating on the stock after restoring valuations to levels prior to recent corporate exercises. On the back of a re-based target price of RM9.40 from RM10.40, upside to current share price was 7%, it noted.
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