CIMB Equities Research has upgraded Malaysian Pacific Industries (MPI) to Add from Hold
KUALA LUMPUR: RHB Research has upgraded Malaysian Pacific Industries
Bhd (MPI) to “buy” with an unchanged target price of RM11.21, which is a 27% upside plus 3.8% forecast financial year 2019 yield.
Despite overall softness in the semiconductor sector, the current share price weakness represents a good buying opportunity as the stock is trading at only 11.8 times forecast financial year 2020 (FY20) price-earnings (P/E), and ex-cash P/E of 7.3 times versus the sector average of 13 to 14 times.
Already a subscriber? Log in.
Limited time offer:
Just RM5 per month.
Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!
