KUALA LUMPUR: AmInvestment Research retained its Hold call on CIMB Group Holdings with an unchanged fair value of RM3.10 a share after management provided further updates on the banking group on Tuesday.
In its research note issued on Wednesday, the research house said the fair value was based on an FY21 return on equity of 4.9%, leading to a price-to-book value (P/BV) of 0.5 times. retained its earnings estimates.
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