[%ZzrV%]
Research by MIDF
Sell– TP of MYR1.60

“DP World Partnership Confirmed” 

No changes were made to our earnings estimates. The stock is currently trading at a premium compared to both its own and the sector’s 5-year average. Therefore, we are maintaining our SELL rating on the stock based on valuation grounds, with our target price unchanged at RM1.60. A key catalyst for the stock would be the long-awaited tariff revision, which has been approved in principle in CY20 and has not yet been factored into our model.

Analyst(s):
MIDF Research Team
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$KLSE-SURIA
Research by MIDF
Sell– TP of MYR1.60

“DP World Partnership Confirmed” 

No changes were made to our earnings estimates. The stock is currently trading at a premium compared to both its own and the sector’s 5-year average. Therefore, we are maintaining our SELL rating on the stock based on valuation grounds, with our target price unchanged at RM1.60. A key catalyst for the stock would be the long-awaited tariff revision, which has been approved in principle in CY20 and has not yet been factored into our model.

Analyst(s):
MIDF Research Team
 research@midf.com.my

$SURIA / 6521 (SURIA CAPITAL HOLDINGS BERHAD)