PETALING JAYA: Investors should accumulate Public Bank Bhd (PBB) shares, which are currently experiencing some overhang due to the passing of its founder, the late Tan Sri Teh Hong Piow. “We see this as an opportunity to accumulate on weakness as the bank’s strategic focus remains intact, led by a strong management team,” UOB Kay Hian (UOBKH) Research told its clients in a report. Maintaining its “buy” call on the lender, the research house said valuations remained attractive and it had a target price of RM5.10 on it. In the report, the research house said PBB’s share price had modestly underperformed the KL Finance index since the passing of its founder. The weakness in its share price may be attributed to concerns including the lack of management succession planning and uncertainty of the transfer of ownership of its late founder’s stake. “It remains hard to predict the outcome of Teh’s 23.4% stake currently valued at RM19.5bil, as we are not privy to the arrangement of his shares and the plans of the individuals inheriting his shares. “As such, we can only hypothesise a number of potential scenarios and attempt to draw a conclusion as to how it may impact […]
K&X Design and Investment Technology, LLC
Invest The Invisible Impact
K&X Design and Investment Technology, LLC
Invest The Invisible Impact
