KUALA LUMPUR: AmInvestment Research is maintaining its buy recommendation on MISC with an unchanged sum-of-parts based fair value of RM7.75 a share.
In its research note on Wednesday, it said RM7.75 reflects a premium of 3% from its ESG rating of four stars. This also implies an FY21F enterprise value/earnings before interest, tax, depreciation and amortization (EV/Ebitda) of nine times, which is at parity to its two-year average.
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