PETALING JAYA: The growth prospects for Star Media Group Bhd’s (Star) Singapore-listed subsidiary Cityneon Holdings Ltd and a new stream of recurring income from property rental that will start coming in from the financial year ending Dec 31, 2017 (FY17), has prompted CIMB Research to turn positive on Star’s stock.
CIMB has upgraded Star to “add” from “hold” previously with a higher sum-of-parts (SOP)-based target price of RM2.61.
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