“We like Gas Malaysia for its stable earnings profile and attractive dividend yield of c.5% for FY19-21F. The stock remains an Add, with its attractive valuation and dividends as potential re-rating catalyst, ” CGS-CIMB Research said.
KUALA LUMPUR: CGS-CIMB Equities Research has adjusted its target price for Gas Malaysia to RM3.07 from RM3.11 as it rolls over its valuation to CY21F, and pegged to a lower one-year mean P/E of 19.9 times (previously 20.5 times) due to the stock's recent price retracement.
“We like Gas Malaysia for its stable earnings profile and attractive dividend yield of c.5% for FY19-21F. The stock remains an Add, with its attractive valuation and dividends as potential re-rating catalyst, ” it said.
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