RHB Research opined that improved sentiment could continue, given expectations of further structural reforms and positive domestic-centric news flow.
KUALA LUMPUR: RHB Research expects Bursa Malaysia Bhd
to post robust net profit of between RM75mil and RM85mil for the second quarter of 2024 (2Q24), underpinned by strong performance of the securities and derivatives markets.
In a note yesterday, the research house also opined that improved sentiment could continue, given expectations of further structural reforms and positive domestic-centric news flow.
Hence, it maintained a “buy” call on the stock exchange operator with a target price of RM11.25.
“While the share price had risen 44% year-to-date, we think the continued securities market strength, along with the potential announcement of special dividends could provide further uplift,” it said.
It also assumed that there would be no special dividends at this juncture.
Bursa Malaysia’s net profit rose by 33.6% to RM75.03mil in 1Q24 from RM56.17mil in 1Q23. — Bernama
