SINGAPORE (Apr 17): CIMB Research is raising the target price on CSE Global to 44 cents, from 39 cents previously, after Malaysia-listed Serba Dinamik (SDH) acquired a close to 25% stake in the company for $57.7 million.
This total consideration translates into a price of 45 cents per share.
“We believe the market may view SDH’s acquisition price as the nearest fair valuation,” says lead analyst Cezzane See in a Monday report.
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