KUALA LUMPUR: AmInvestment Research is retaining its Buy on Hong Leong Financial Group (HLFG) with an unchanged fair value of RM17.20/share based on sum-of-parts valuation.
“We continue see the stock as attractive due to: i) it being a cheaper entry for gaining exposure to Hong Leong Bank (HLBB); and ii) its undervalued insurance business. No revision in our earnings estimates, ” it said.
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