KUALA LUMPUR (Aug 30): CGS-CIMB Research has maintained its “Hold’ rating on Lafarge Malaysia Bhd at RM3.39 with a lower target price of RM3.50 (from RM3.75) and said Lafarge’s 1H19 results were broadly in line as the research house expect narrower losses in 2H19, driven by a gradual pick-up in demand and expected stabilisation of ASPs.

In a note Aug 29, the research house said 1H19 core net loss declined 42% y-o-y; cement losses contracted 33% y-o-y.

“Hold maintained with a lower target price. Share price sentiment could remain weak,” it said.