KUALA LUMPUR: RHB research upgraded Sime Darby Property Bhd
to buy as its second quarter results beat expectations following a strong sales performance
"We raise our FY19-21 earnings forecasts by 14-15%, given the strong sales momentum," it said, while noting that the recent selldown in the shares offers investors a good opportunity to enter.
However, RHB lowered its target price on the stock to RM1 from RM1.13 previously to reflect the potential downside risk to economic growth.
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