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Research by MIDF
Buy (Maintain) – TP RM1.20

“Brighter Horizons"

Maintain BUY. We adjusted our projections for FY25F/FY26F earnings downward by -7.6% after updating the full-year figures. As a result, our target price is now slightly reduced to RM1.20 (from RM1.30). We maintain our BUY recommendation on Tasco due to its undemanding valuation, currently trading at 9.1x FY25F EPS or -1 SD of its 5-year historical mean. Key downside risks are: (i) potential delays in handing over the new warehouse space to customers and (ii) volatility in freight rates.

Analyst:
MIDF Research Team
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$KLSE-TASCO
Research by MIDF
Buy (Maintain) – TP RM1.20

“Brighter Horizons"

Maintain BUY. We adjusted our projections for FY25F/FY26F earnings downward by -7.6% after updating the full-year figures. As a result, our target price is now slightly reduced to RM1.20 (from RM1.30). We maintain our BUY recommendation on Tasco due to its undemanding valuation, currently trading at 9.1x FY25F EPS or -1 SD of its 5-year historical mean. Key downside risks are: (i) potential delays in handing over the new warehouse space to customers and (ii) volatility in freight rates.

Analyst:
MIDF Research Team
research@midf.com.my