KUALA LUMPUR: Ambank Investment Bank Research has upgraded Luxchem Corp Bhd
to "hold" after the recent decline in its share price while maintaining its earnings forecasts.
The research house has a fair value of 79 sen on the stock based on 14x FY21 forecast earnings per share, whih values the stock at 2x multiple premium to its average historical forward price-earnings of 12x, reflecting investors' increased appetite for glove-related stocks.
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