“Assumptions of higher credit costs are offset by upward revisions in operating income. Our new forecasts point to a 15% recovery in FY21F earnings,” RHB Research said.
KUALA LUMPUR: RHB Research is maintaining its Buy call on Public Bank while it raised its target price from RM20.60 to RM21.60 after its results for January-September beat its own estimates and consensus also.
The research house said on Monday Public Bank’s third quarter earnings normalised on strong fee income and net interest margin (NIM) recovery.
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