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NewsGE13: CIMB Research ups Malaysia to Overweight, end-2013 KLCI target 1,850
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GE13: CIMB Research ups Malaysia to Overweight, end-2013 KLCI target 1,850
by hlk Mon 06 May 2013, 09:06
KUALA LUMPUR: CIMB Equities Research has upgrades Malaysia from Neutral to Overweight and raised its end-2013 FBM KLCI target from 1,640 to 1,850.
It said on Monday it was based on 15.6 times price-to-earnings versus 13.5 times previously.
“Our preferred sector picks revert to the Economic Transformation Programme (ETP) winners, that is the oil and gas, construction and property sectors,” it said.
CIMB Research said the ruling Barisan Nasional emerged victorious in the 13th General Elections with a comfortable majority.
“While
the win should be a relief for investors, the market could still face
some headwinds as uncertainties may persist until Umno party elections
are held,” it said.
“Nonetheless, as investors have had a long
time to analyse the implications of a slimmer victory and with General
Elections finally out of the way, investors will likely put their
surplus cash to work,” it said.
It said on Monday it was based on 15.6 times price-to-earnings versus 13.5 times previously.
“Our preferred sector picks revert to the Economic Transformation Programme (ETP) winners, that is the oil and gas, construction and property sectors,” it said.
CIMB Research said the ruling Barisan Nasional emerged victorious in the 13th General Elections with a comfortable majority.
“While
the win should be a relief for investors, the market could still face
some headwinds as uncertainties may persist until Umno party elections
are held,” it said.
“Nonetheless, as investors have had a long
time to analyse the implications of a slimmer victory and with General
Elections finally out of the way, investors will likely put their
surplus cash to work,” it said.
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