“Tasco has shown unprecedented growth amid the current pandemic operating environment and we expect the group to continue performing well in Q4,2021 which will in return meet our full-year FY21 earnings estimates, ” MIDF Research said.
KUALA LUMPUR: MIDF Research has upgraded its call to “buy” from “neutral” for Tasco Bhd
with a higher target price of RM4.57 from RM2.56 previously on the back of positive earnings outlook ahead.
“Our target price is derived by pegging our earnings per share of financial year 2022 (FY22) to a revised forward price-to-earnings ratio (P/E) of 20 times, previously 11.7 times – which is the above +1 standard deviation of B/F 2 years P/E ratio.
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