KUALA LUMPUR (April 5): Alliance Research has maintained its Buy recommendation on AMMB HOLDINGS BHD [] with a target price of RM7.40 after AMMB announced on April 4 that it received the Finance Ministry's approval, for the acquisition of a 100% equity interest in Kurnia Insurans.
“We are positive on this deal although pricing remains the key issue. We observe that banking M&A news flow has accelerated recently and has attracted investor interests on the stock.
“We believe that the potential for ANZ to increase its stake in AMMB is imminent. Maintain BUY with a target price of RM7.40,” it said.
“We are positive on this deal although pricing remains the key issue. We observe that banking M&A news flow has accelerated recently and has attracted investor interests on the stock.
“We believe that the potential for ANZ to increase its stake in AMMB is imminent. Maintain BUY with a target price of RM7.40,” it said.
