However, the analyst has slightly lowered the target price due to additional dilution from the rights issue, which is mitigated by the lowering of its finance costs after paying $68 million of its debt.
SINGAPORE (June 5): RHB is maintaining its “buy” call on Moya Holdings with a target price of 14 cents.
In a Monday report, analyst Jarick Seet says, “With lower financing costs, concession extensions and recovery of non-revenue water (NRW) to provide strong organic growth – coupled with additional accretive acquisitions in the pipeline to further boost NPAT – we remain positive on Moya and maintain ‘buy’.”
