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Kenanga upgrades AEON to outperform

KUALA LUMPUR: Kenanga Research upgraded AEON Co (M) Bhd to outperform with a raised target price of RM2.60 from RM2 previously based on a revised 26.5x FY19E eranings per share.

Kenanga downgrades 7-Eleven to market perform

KUALA LUMPUR: Kenanga Research has downgraded 7-Eleven Malaysia as its 1Q18 core net profit came in below expectations due to lower-than-expected sales and higher-than-expected operating expenses.

Higher fuel prices to pressure AirAsia’s earnings

KUALA LUMPUR: CIMB Equities Research expects higher fuel prices to pressure AirAsia Group Bhd’s (AAGB) earnings as it only hedged about 12% of its FY18F jet fuel needs at US$68.55 per barrel.

Sime Darby Property 9M earnings slightly below forecast

KUALA LUMPUR: Sime Darby Property core net profit for the nine months ended March 31, 2018 was slightly below CIMB Equities Research’s expectations at 69% of its full year forecast and at 49% of Bloomberg consensus number due to weaker margin.

Outlook for WCT likely subdued, says CIMB Research

KUALA LUMPUR: CIMB Equities Research is retaining its Hold call for WCT Holdings with a lower target price of 84 sen compared with RM1.26 previously as it sees the outlook as likely subdued.

Inari-Amertron to grow LED, fibre and sensor businesses

KUALA LUMPUR: Inari-Amertron is targeting to grow its light emitting diode (LED), fibre and sensor product portfolio to offset the softness in radio frequency (RF) demand due to sluggish near-term smartphone outlook, says CIMB Equities Research.

CIMB Research retains reduce call on Lafarge

KUALA LUMPUR: CIMB Equities Research is maintaining its reduce call on Lafarge Malaysia with a lower target price of RM3.63 compared with the earlier RM4.85 as it remains bearish on infrastructure companies and the cement industry.