- Forecast revised downwards. Given that the core earnings came in below expectations, we have revised downwards for our earnings forecast by 23-25% to RM29.7m, RM32.3m ad RM34.0m.
- Maintained BUY with lower TP at RM1.50. We maintain BUY on SCOMNET with a lower target price of RM1.50 (upside or 12.8%). Our target price is derived by assigning a target P/E multiple of 38.0x to FY24f diluted EPS of 3.94 sen.
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