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RHB Research maintains Buy on DRB-Hicom, ups fair value to RM3.40

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RHB Research maintains Buy on DRB-Hicom, ups fair value to RM3.40 Empty RHB Research maintains Buy on DRB-Hicom, ups fair value to RM3.40

Post by Cals Fri 29 Nov 2013, 17:53

RHB Research maintains Buy on DRB-Hicom, ups fair value to RM3.40
Business & Markets 2013
Written by theedgemalaysia.com
Friday, 29 November 2013 09:03

KUALA LUMPUR (Nov 29): RHB Research has maintained its Buy rating on DRb-Hicom Bhd (DRB) at RM2.43 with a higher fair value of RM3.40 (from RM3.30) and said DRB’s results were in line.
In a note Friday, the research house said DRB’s automotive business continued to show positive signs of recovery with a third consecutive quarter of relatively stable earnings.
“While there is much more to be done, the introduction of Proton’s Global Small Car (GSC) by mid-2014 will be critical to boost production to 500,000 units by 2017/18.
“DRB remains attractive given the deep underlying value in the assets within the group. Buy,” it said.
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