KUALA LUMPUR: RHB Research has initiated its coverage on Instacom with Buy recommendation, with a fair value of 51 sen as the company is a major beneficiary of the rollout of long term evolution (LTE) networks and universal service provision (USP) projects in East Malaysia.
“Earnings growth is likely to see a new leg up with the company venturing into the telco infra lease business. We like Instacom for its good earnings prospects and undemanding valuations,” RHB said on Monday.
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