MAYBANK (1155) : CIMB Research tells clients to stay invested in Maybank, target price RM12.50
KUALA LUMPUR (Dec 8): CIMB Research has maintained its “Add” rating on Malayan Banking Bhd at RM8.89 with an unchanged target price of RM12.50 after the Edge weekly reported that Maybank was considering listing its insurance unit under Etiqa.
In a note Dec 7, the research house advised its clients to stay invested in Maybank to capitalise on its regional network, which would benefit from the increasing trade in the Asean region.
CIMB Research said the potential near-term catalysts were the recovery of the Indonesian operating environment and the market share gains by its investment banking business.
“As for the insurance business, we see Maybank’s drive to expand its insurance business regionally as a catalyst, but not the potential listing of its insurance unit in Malaysia,” it said.
At 10.16am, Maybank was flat at RM8.89 with 1.18 million shares done.
http://www.theedgemarkets.com
KUALA LUMPUR (Dec 8): CIMB Research has maintained its “Add” rating on Malayan Banking Bhd at RM8.89 with an unchanged target price of RM12.50 after the Edge weekly reported that Maybank was considering listing its insurance unit under Etiqa.
In a note Dec 7, the research house advised its clients to stay invested in Maybank to capitalise on its regional network, which would benefit from the increasing trade in the Asean region.
CIMB Research said the potential near-term catalysts were the recovery of the Indonesian operating environment and the market share gains by its investment banking business.
“As for the insurance business, we see Maybank’s drive to expand its insurance business regionally as a catalyst, but not the potential listing of its insurance unit in Malaysia,” it said.
At 10.16am, Maybank was flat at RM8.89 with 1.18 million shares done.
http://www.theedgemarkets.com
