AffinHwang Capital maintains Buy on Scicom, ups target to RM2.62

AffinHwang Capital maintains Buy on Scicom, ups target to RM2.62
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KUALA LUMPUR (June 17): AffinHwang Capital Research has maintained its “Buy” rating on Scicom (MSC) Bhd at RM2.22 with a higher target price of RM2.62 (from RM2.58) and said Scicom’s Education Malaysia Global Services (EMGS) contract continues to be a stable earnings driver as Malaysia increasingly becomes an attractive education destination.

In a note today, the research house said another potential earnings driver is the extension of its e-government services to the region.

“Reaffirm Buy with a higher 12-month target price of RM 2.62,” it said.