KUALA LUMPUR: CIMB Equities Research is maintaining its Trading Buy call on Bursa Malaysia with a target price of RM10.70.
It said on Monday, March 29 there was was potential upside from retail participation if certain regulatory constraints are removed to help improve retail participation.
"Overall, we remain bullish on the stockmarket and maintain a KLCI target of 1,450 for end-2010. Our projected core EPS growth of 33.6% for FY10 is underpinned by an expected pick-up in velocity from 34% in 2008-09 to 40%.
"We retain our earnings forecasts and target price of RM10.70, pegged to an unchanged P/E of 33x," it said.
CIMB Research also maintained its Trading Buy call due to potential re-rating catalysts of (1) an expected rise in trading value, (2) sustained market sentiment, (3) a rebound in the effective clearing fee rate, and (4) stronger growth of the derivative business.
About Me
- Nuang
- Ibrahim bin Ramli@Nuang started his career with CIMB Wealth Advisors Berhad as Agency Manager in April, 2008.Previously he was an Internal Auditors and Accounts Executive with Perodua Sales Sdn Bhd since 17 August, 1994. His background:- 1.Certified of Achievement for Master Sales Leadership from Dr Lawrence Walter Ng of President of The Art Of Learning and International Of Learning Without Learning 2.Certified for eXtra Ordinary Performance of Lawrence Walter Award Certificate for One Million Ringgit Club 2007 3. Certified Life & General insurances 4. Conferred with Diploma in Business Studiess & Bachelor of Business Admin(Hons)Finance from UiTM, Terengganu Branch & Shah Alam respectively;
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