KUALA LUMPUR: AmInvestment Bank Research has raised its earnings forecasts on Bermaz Auto Bhd following news of its joint venture with Kia Motors Corp.
"We maintain our BUY call on Bermaz Auto (BAuto) with a higher fair value of RM1.80/share (from RM1.74/share previously) as we roll over our valuation to FY22F with a PE of 13x and after tweaking our earnings estimates higher," said the research house.
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