Alliance DBS Research pointed out 28% of stocks under its coverage missed expectations in 2Q19, compared to 25% in 1Q19 and 30% in 4Q18.
KUALA LUMPUR: Alliance DBS Research has reduced its target for the FBM KLCI to 1,610, pegged to an unchanged 16 times CY20 earnings after incorporating its latest earnings revision.
In its strategy report issued on Wednesday, its 2019/2020 KLCI earnings growth was at -5.5% and 6.4%, respectively.
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