mm2 Asia remains a 'buy' for Maybank despite reduced forecasts on non-operational leakage
Michelle Zhu • • 2 min read
SINGAPORE (Feb 21): Maybank Kim Eng is maintaining its “buy” call on mm2 Asia while lowering its target price on the stock to 34 cents from 57 cents previously, after cutting 2019-21E core profit forecasts by 48%, 12% and 9%, respectively.
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SINGAPORE (Feb 21): Maybank Kim Eng is maintaining its “buy” call on mm2 Asia while lowering its target price on the stock to 34 cents from 57 cents previously, after cutting 2019-21E core profit forecasts by 48%, 12% and 9%, respectively.
This comes after the group’s 9M19 core profit came in below expectations at 34% of Maybank’s FY19 estimates, and 67% of previous consensus forecasts.
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