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Perak Transit looks attractive at current price levels: TA Securities

TheEdge Fri, Aug 23, 2019 12:07pm - 5 months ago

KUALA LUMPUR (Aug 23): Perak Transit is a great buying opportunity as a domestic play that is unsusceptible to the U.S.-China trade conflict, TA Securities says. 

The Malaysian bus-terminal operator's 2Q earnings met consensus estimates and were its strongest quarterly results since its IPO in 2016. The broker says PerakTransit's share price correction of 36.1% from a year ago makes the stock very appealing, and that the sell-down has been irrational. 

The company has also secured tenancies to take up more than 70% of net lettable area on a new bus terminal due to be fully operational next year. TA maintains a buy rating on Perak Transit with an unchanged target price of 44 sen.

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