AmInvest Research retains Buy on Maybank, FV RM9.50

KUALA LUMPUR: AmInvestment Bank Research maintained its Buy call on Malayan Banking (Maybank) with a lower fair value of RM9.50 a share.

In its research note issued on Friday, it said the lower fair value was after it pegged the stock to a lower return on equity (ROE) of 10.0%, leading to a FY20 price-to-book value (P/BV) of 1.3 times.