Kenanga lowers price target on Maybank post earnings revision

KUALA LUMPUR: Kenanga Investment Bank has maintained its "market perform" recommendation on Maybank Bhd but tweaked its target price slightly lower after raising its credit cost forecast and lowered its dividend projection.

Following a meeting with Maybank's management, the research house said asset quality at the lender has been stable while positive but pre-emptive provisions will continue to be booked in to build loan loss reserves.