Kenanga expects 100% upside for JCY on HDD upcycle

KUALA LUMPUR: Kenanga Investment Bank Research is expecting JCY International Bhd's valuation to double on massive earnings growth as it benefits from the upcycle in the HDD (hard disk drive) market.

The research house has a "trading buy" call on the stock with a fair value of RM1.35, which represents 100% upside to the last traded price of 67.5 sen on Tuesday.