KUALA LUMPUR: CIMB Equities Research has raised the target price for Malaysian Resources Corp Bhd (MRCB) from RM2 to RM2.08 which is 23.8% above its last traded price of RM1.68.
It said on Monday MRCB's annualised 1H14 core net profit was 16% above its full-year forecast and 11% above consensus but deems it broadly in line as it expects 2H14 to be weaker.
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