RHB Research said Pekat Group is the main beneficiary of solar PV systems for the commercial, industrial and residential segments.
KUALA LUMPUR: RHB Research has ascribed a fair value of 56 sen for Pekat Group Bhd
, whose core business are solar photovoltaic (PV) and earthing and lightning protection (ELP), which is 76% above the offer price of 32 sen.
In its research note on Wednesday, it said the valuation was at significant discount to its peer Solarvest. It added the FV of 56 sen was based on a target 20 times FY22 forecast price-to-earnings (P/E).
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