“Given this set of disappointing results, expectations of another soft quarter ahead, and 34% share price appreciation since September 2019, we believe risks outweigh rewards at this juncture, ” Kenanga Research said in its report on Unisem.
KUALA LUMPUR: Kenanga Research downgrades Unisem from market perform to underperform, lowered target price from RM2.40 to RM2.15.
It said on Tuesday the forward price-to-earnings ratio (PER) was unchanged at 18 times, in line with group’s mid-cycle PER applied to EPS for FY2020 of 11.7 sen.
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