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Affin Hwang Capital raises target price for Hai-O to RM6.44

Mimi Sabreena 4:00:00 PM Informasi

KUALA LUMPUR (Dec 19): Affin Hwang Capital Research has maintained its “Buy’ rating on Hai-O Enterprise Bhd at RM5.47 with a higher target price (TP) of RM6.44 (from RM6.10) and said Hai-O reported a 1H18 core net profit of RM39.3 million (+53% y-o-y), coming in slightly above house expectation but in line with consensus expectations.

In a note today, the research house said the strong growth was mainly driven by contribution from the multilevel marketing (MLM) segment and wholesale segment.

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