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Research by TA
SELL – TP RM0.40  

" Hint at Adex Recovery, but Market Challenges and Competitive Pressures Persist”

Corresponding to our revision in our net profit forecast, our TP for Media Prima has been revised slightly higher to RM0.40 (previously RM0.36) based on P/BV of 0.6x CY24F BV with ESG Premium of 3%. However, we maintain our Sell recommendation on the stock as its risk-reward potential remains unfavourable. We view stronger-than-expected adex as a key rerating catalyst for the stock.

Analyst:
Lee Yun Leon 
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$KLSE-MEDIA 
Research by TA
SELL – TP RM0.40  

" Hint at Adex Recovery, but Market Challenges and Competitive Pressures Persist”

Corresponding to our revision in our net profit forecast, our TP for Media Prima has been revised slightly higher to RM0.40 (previously RM0.36) based on P/BV of 0.6x CY24F BV with ESG Premium of 3%. However, we maintain our Sell recommendation on the stock as its risk-reward potential remains unfavourable. We view stronger-than-expected adex as a key rerating catalyst for the stock.

Analyst:
Lee Yun Leon 
yllee@ta.com.my