Power Root's share price run-up not over yet

KUALA LUMPUR: Power Root Bhd may be experiencing further upside from a valuation re-rating even as it catches up to the sector average, said RHB research.

In a note, the research house maintained its buy call on the counter while raising its FY20F-22F core earnings by 3-5%, raising the target price to RM2.49. It said it was positively surprised by the overwhelming attendance at Power ROot's inaugural briefing, due to its recent earnings turnaround and the attention paid to whether the recovery can be sustained.