CIMB Equities Research has upgraded DRB-Hicom from Hold to Add with a higher target price of RM1.60
DRB-Hicom said the existing agreements and the contract amendments relate to the supply by CTRM-AC to UTAS of aft cascade rings, fan cowl and thrust reverser products, and related spare parts for use in the commercial aerospace industry.
The amendments include extending the term of the existing agreements to align with the contract period between UTAS and its customers on the supply of its production articles and related spare parts.
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