KUALA LUMPUR: Affin Research has maintained a Reduce call on MSM with a target price of RM4.70 in view of challenging demand and increasing regulatory risk, looming subsidy cut as the government reins in its fiscal deficit.
“We remain cautious on MSM. Maintain Reduce and target price of RM4.70 based on 13 times FY14 earnings per share,” it said on Tuesday.
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