Strategy CIMB Research raises end-2016 KLCI target to 1,900 points

by **Cals** Wed 16 Dec 2015, 01:25

Strategy

[size=28]CIMB Research raises end-2016 KLCI target to 1,900 points

By Surin Murugiah / theedgemarkets.com | December 15, 2015 : 8:39 AM MYT

KUALA LUMPUR (Dec 15): CIMB IB Research ([You must be registered and logged in to see this image.] Valuation: 1.65, Fundamental: 0.55) has raised its end-2016 target for the FBM KLCI to 1,900 points from 1,850 points previously and said 2015 has been a far more turbulent and volatile year than expected.

In a strategy note yesterday, the research house said despite headwinds in 2016, it expects a milder and far better year ahead.

It said its preferred sectors were banking, construction and smaller caps.

The research house said its top three big cap picks were Gamuda Bhd ([You must be registered and logged in to see this image.] Valuation: 1.40, Fundamental: 1.30), RHB Capital Bhd ( Valuation: 1.35, Fundamental: 1.10) and Tenaga Nasional Bhd ( Valuation: 1.80, Fundamental: 1.30).

"Top three smaller cap picks are Only World Group Holdings Bhd ([You must be registered and logged in to see this image.] Valuation: N/A, Fundamental: N/A), My E.G. Services Bhd ( Valuation: 1.10, Fundamental: 2.30) and Prestariang Bhd ( Valuation: 0.50, Fundamental: 2.25)," it said.

(Note: The Edge Research's fundamental score reflects a company's profitability and balance sheet strength, calculated based on historical numbers. The valuation score determines if a stock is attractively valued or not, also based on historical numbers. A score of 3 suggests strong fundamentals and attractive valuations.)
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