Friday 29 Mar 2024
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KUALA LUMPUR (May 20): CIMB IB Research has maintained its “Add” rating on Bioalpha Holdings Bhd at 39 sen, with an unchanged target price of 65 sen and said it expects Bioalpha to report 1Q16 net profit of between RM100,000 and RM500,00.

In a note May 19, the research house said 1Q is seasonally the weakest quarter of the year, while 4Q is seasonally the strongest, mainly due to festive seasons.

“1Q16 revenue is expected to be higher than 1Q15, mainly due to consolidation of the Constant Pharmacy Group acquired in end-2015.

“Indonesia looks bullish, in view of the expected launch of 20 products in 2017, compared to only 10 products this year. Remains an Add, one of our top consumer smallcap picks,” it said.

At 10.36am, Bioalpha rose 1.28% or half a sen to 39.5 sen, with 2.47 million shares traded.

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