KUALA LUMPUR: CGS-CIMB Equities Research expected Power Root's sales in its second quarter ending Sept 30, to be weaker year-on-year due to the Covid-19 disruptions and subdued consumer sentiment.
In its research note issued on Friday, it said whilst Power Root has seen a gradual recovery in domestic sales post-MCO, export sales are likely to be subdued from weaker consumer demand.
“Reiterate Add, with a lower TP of RM2.65 (20 times CY21F P/E), ” it said.
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