CImb berani 4.10 for DRB

CIMB Research maintains Outperform on DRB-Hicom, target price RM4.10 Business & Markets 2012 Written by Monday, 09 July 2012 08:35 A + / A - / Reset KUALA LUMPUR (July 9): CIMB Research has maintained its Outperform rating on DRB-HICOM BHD [] at RM2.62 with a target price of RM4.10 and said that after a few high-profile deals such as its collaboration with VW and the acquisition of POS Malaysia and Proton, DRB has spared no time in getting to work. In a note Monday, the research house that in the pipeline could be a strategic collaboration between Proton and an OEM as well as the disposal of non-core assets. “Our above-consensus forecasts reflect cost-savings from the low hanging fruit in Proton and recovery of Honda Malaysia. “Further catalysts could include a possible collaboration between Proton and VW and divestment of non-core assets. “Our Outperform and SOP-based target price have been maintained. DRB remains a top pick in the sector,” it said.