$BAUTO / 5248 (BERMAZ AUTO BERHAD)
Research by MIDF
BUY – TP RM3.03

" Earnings Matched Expectations, No Surprises”

• 1QFY25 results on track with expectations
• BAuto takes 11.54% stake in EPMB to support expansion plans
• All-new Kia Sportage is the next key launch
• No change to earnings forecasts
• Maintain BUY with a revised TP of RM3.03

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