CIMB Group Holdings Bhd. saw its share price rise 1.3% to RM6.28, hitting a new 52-week high. Analysts are optimistic about its strong performance in Indonesia and Thailand, leading to revised target prices.
CIMB Group Holdings Bhd. demonstrated strong performance today, with its share price rising 8 sen to RM6.28, trading over 15 million shares. This surge is largely attributed to the market's positive reaction to its ASEAN expansion strategy. MIDF Research maintained a 'Buy' rating on CIMB, raising its target price from RM6.50 to RM6.80, citing stable Net Interest Margin (NIM) and improving asset quality. Given the accelerating regional economic recovery, particularly increased contributions from its Indonesian and Singaporean operations, CIMB is poised to report robust growth in its upcoming Q4 FY2025 results.
Share: