KUALA LUMPUR: RHB Research Institute is retaining its neutral outlook on Freight Management with a new discounted cashflow-derived TP of 60 sen from 63 sen.
It said on Thursday the FY19 earnings were below estimates, on losses from its tug & barge associate as well as distribution businesses. The stock lacks catalysts as FY20F earnings growth will be capped by ongoing losses from the tug & barge business.
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