Hong Leong Bank1
KUALA LUMPUR: AmInvestment Research upgraded its call on Hong Leong Bank (HLBB) to Buy from Hold with a revised fair value of RM18.90 a share from RM20.50.
It said on Thursday its fair value was based on a lower FY20 return on equity (ROE) of 10.2%, leading to a price-to-book (PB) value of 1.4 times.
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