KUALA LUMPUR (April 24): CIMB Research has downgraded DiGi.Com Bhd to “Hold” at RM4.53 with a lower target price of RM4.40 (from RM4.80) and said DiGi’s 1Q19 EBITDA/core EPS fell 3.1%/5.1% quarter-on-quarter on lower revenue and higher depreciation. Interim DPS was 4.3 sen.

In a note April 23, the research house said results missed expectations slightly.

“Post-earnings cut, we forecast core EPS to fall 4.1%/0.3% year-on-year in FY19F/20F, before rising 7.6% in FY21F.

“Downgrade from Add to Hold, with an 8% lower target price of RM4.40,” it said.