Analysts maintain 'positive' calls on DRB-Hicom on strong 4Q

Analysts maintain 'positive' calls on DRB-Hicom on strong 4Q performance


KUALA LUMPUR (Feb 25): DRB-Hicom Bhd has received positive calls from analysts after recording a strong net profit in the fourth quarter of the financial year ended Dec 31, 2020 (4QFY20), surging 20.8 times year-on-year (y-o-y) to RM986 million.
Kenanga Research, in a note on Thursday, maintained its "outperform" call on the company with a sum-of-parts (SOP)-derived target price (TP) of RM2.50.
In terms of the automotive segment, analyst Wan Mustaqim Wan Ab Aziz said the group's marques are expected to boost its sales performance by featuring new or revised models amid the current sales tax exemption period.
On Pos Malaysia Bhd's performance, he said despite the challenging environment, Pos Malaysia's ongoing transformation efforts will augment the improved tariff rates and growing demand for e-commerce.

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