KUALA LUMPUR: AmInvestment Bank Research has initiated coverage on Perak Transit Bhd with a "buy" recommendation and target price of RM1.25 on optimism over the group's unique and commercially viable business model.
"At 9–11x forward earnings, we believe Perak Transit offers investors a good opportunity to own a defensive public infrastructure business that is replicable for growth at bargain valuations," it said.
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