“We feel that the selldown is unwarranted as the company will see 20% earnings growth in FY20 even without contract wins, as long as current concessions remain intact, ” UOB Kay Hian Malaysia Researchsaid as it maintained a Buy with an unchanged target price of RM1.71.
KUALA LUMPUR: The selldown of My EG Services share price on Thursday, where it plunged 11% to close at RM1.25, is unwarranted as there is strong earnings growth ahead, UOB Kay Hian Malaysia Research says.
It said on Friday the selldown could be tied to a foreign fund selling its stake, as its foreign shareholding is about 25%, amid a few concerns cited in the market, .
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