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RHB Research maintains Buy on Maybank, trims fair value to RM11.30

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RHB Research maintains Buy on Maybank, trims fair value to RM11.30 Empty RHB Research maintains Buy on Maybank, trims fair value to RM11.30

Post by Cals Fri 30 May 2014, 19:42

RHB Research maintains Buy on Maybank, trims fair value to RM11.30
Business & Markets 2014
Written by theedgemalaysia.com   
Friday, 30 May 2014 08:28

KUALA LUMPUR (May 30): RHB Research has maintained its Buy rating on Malayan Banking Bhd with a lower fair value (FV) of RM11.30 (from RM11.70) and said Maybank’s 1Q14 started off on a more muted note with loan growth soft while capital market and treasury activities were subdued.

However, in a note Friday, the research house said that 2014 targets were retained as management had seen a pickup in capital market activities in 2Q while lending activities ahead should remain well supported by the ETP.

“We tweak down our FV to RM11.30 (from RM11.70) as we switch valuation methodology to GGM from P/E. Buy,” it said.
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