RHB’s small cap Asean research team is maintaining its ‘buy’ call on professional staffing firm HRnetgroup, but at a revised target price of 72 cents.

This is up 20 cents from its previous 52 cent call and is believed to give the counter a 22% upside from its 59 cent price on Mar 3, analyst Jarick Seet says in a research note.

His target price is pegged to 15x FY2021 price-to-earnings, he explains. By contrast, the counter is presently trading at what Seet calls a “modest” 11.7x FY2021 price-to-earnings.

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