[%kiBa%] 
Research by TA Securities
Buy – Target Price RM1.38

“Expects Domestic Steel Demand to Further Pick up”

We take this opportunity to increase the target PE multiple for CSCSTEL from 8x to 9x, as we are more optimistic about the steel industry’s long term outlook, following a stronger commitment from the government. With that, we revised the target price from RM1.23 to RM1.38 based on 9xCY24 earnings. Upgrade the stock from Hold to Buy.

Analyst:
Chan Mun Chun 
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$KLSE-CSCSTEL 
Research by TA Securities
Buy – Target Price RM1.38

“Expects Domestic Steel Demand to Further Pick up”

We take this opportunity to increase the target PE multiple for CSCSTEL from 8x to 9x, as we are more optimistic about the steel industry’s long term outlook, following a stronger commitment from the government. With that, we revised the target price from RM1.23 to RM1.38 based on 9xCY24 earnings. Upgrade the stock from Hold to Buy.

Analyst:
Chan Mun Chun 
mcchan@ta.com.my

$CSCSTEL / 5094 (CSC STEEL HOLDINGS BERHAD)