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AmInvest Research cuts Wesports net profit forecasts, retains Hold


KUALA LUMPUR: AmInvestment Bank Research cut its FY18-19F net profit forecasts by 8% and 5% respectively and reduced its fair value by 2% to RM3.74 from RM3.82 but maintained its Hold call. 

It said on Thursday its new fair value was based on 21 times revised fully diluted FY19F EPS, at about 10% discount to Westports’ average historical forward price-to-earnings (P/E) of 23 times.

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