Thursday, February 23, 2012

CIMB Group Holdings: Maintain Sell - CIMB Niaga: No surprises in 4Q11

Sell maintained. No major surprises in CIMB Niaga's 2011 results, which were within expectations. Our forecasts for CIMB Group are maintained ahead of its results announcement on Feb 27, with an unchanged TP of RM6.80 (1.6x 2012 P/BV).

Maybank Research 23 Feb 2012

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