KUALA LUMPUR: Hong Leong Investment Bank (HLIB) Research is maintaining its “buy” rating on DRB-Hicom with a RM2 target price, which is an upside of 45% upside, based on 20% discount to sum-of-parts.
It said on Wednesday DRB-Hicom was trading at undemanding valuation at 0.42 times price-to-book (P/B), which is 26% lower than its 10-year historical average of 0.57 times.
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