KUALA LUMPUR: AmInvestment research has downgraded N2N Connect Bhd to hold from buy with a reduced fair value of 70 sen a share from 73 sen previously, as it slashed FY19F-FY21F forecasts by 14-15%.
In a note, the research house said N2N's 1HFY19 core net profit of RM8.5mil was up 18.3% year-on-year due to a lower effective tax rate, but remained only 38% of its and market's full-year estimates.
Already a subscriber? Log in.
Subscribe to win RM50 Touch 'n Go e-Voucher! More Info
Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!