KUALA LUMPUR: AmInvestment Research raised its FY20 to FY22F net profit forecasts for Luxchem by 15%, 26% and 26% respectively and raised its fair value by 25% to 79 sen from 63 sen previously.
In its research note issued on Wednesday, it saw the fair value was based on 14 times FY21F EPS, valuing the stock at two times multiple premium to its average historical forward price-to-earnings of 12 times.
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