SINGAPORE (Oct 14): RHB has reversed its call on Kingsmen Creatives, putting out a “neutral” recommendation on the belief that the company is now fairly valued at 80 cents. The brokerage downgraded the stock to “sell” back in August 14, with a then price target of 78 cents.

“The current quarter is expected to remain challenging for the company, led by a slowdown in the expansion of high-end retailers and translation losses from CNY and MYR depreciation,” writes analyst Juliana Cai in her Oct 14 report.

“However, we think that the worst is over, as the company embarks on new initiatives to improve its revenue stream,” she adds.

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