MIDF Research ups Aeon Co target price to RM1.18

The research house said the management will focus on differentiating itself from its competitors and tap into its customers’ profile to customise its offerings.

KUALA LUMPUR: MIDF Equities Research raised its target price for Aeon Co. to RM1.18 from RM1.01 as it increased its price-to-earnings ratio (PER) valuation to 18.7 times as it sees a brighter outlook for the company.

In its research report on Monday, it said the 18.7 times was one standard deviation below its five-year historical mean compared to 16 times previously.