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RHB Research maintains Buy on Tune Insurance, raises fair value to RM3

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RHB Research maintains Buy on Tune Insurance, raises fair value to RM3 Empty RHB Research maintains Buy on Tune Insurance, raises fair value to RM3

Post by Cals Fri 08 Aug 2014, 03:05

RHB Research maintains Buy on Tune Insurance, raises fair value to RM3
Business & Markets 2014
Written by theedgemalaysia.com   
Thursday, 07 August 2014 09:29

KUALA LUMPUR (Aug 7): RHB Researh has maintained its Buy rating on Tune Insurance Holdings Bhd at RM2.48 with a higher fair value of RM3 and said the company’s share price may be on an uptrend amid positive sentiment spurred by its MOU with a prominent figure in Dubai’s aviation industry – a sign of the insurer’s efforts to diversify away from its major partner AirAsia.
In a note Thursday, RHB Research said while Tune Insurance’s 2Q14 results were affected by weak regional travel demand, the research house views it as a short-term hiccup and expect a better 2H.
“Maintain Buy, with a higher R3 fair value (24x FY15F EPS),” it said.
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