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Hong Leong Asia ‘revving up for a stronger ride in 2022’: CGS-CIMB

Chloe Lim
Chloe Lim3/9/2022 05:20 PM GMT+08  • 3 min read
Hong Leong Asia ‘revving up for a stronger ride in 2022’: CGS-CIMB
CGS-CIMB Research has maintained his “add” rating on Hong Leong Asia upon results for the 2HFY2021 and FY2021
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CGS-CIMB Research analyst Ong Khang Chuen has maintained his “add” rating on Hong Leong Asia after the group reported its results for the 2HFY2021 and FY2021 ended December on Feb 25.

In his report dated March 8, Ong has lowered his target price to $1 from $1.05 before.

“We believe the worst is over for Hong Leong Asia, and expect sequential earnings recovery ahead for both of its key segments,” says Ong. “Our FY2022-2023 earnings per share (EPS) is lowered to factor in lower margin assumptions for Yuchai.”

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