KUALA LUMPUR (July 2): Sasbadi Holdings Bhd jumped as much as 23 sen to its highest since the publisher's Bursa Malaysia listing in July 2014.
Today, analysts said Sasbadi, which traded at an intraday high of RM2.60, was a defensive stock amid market volality.
"We believe the relatively strong share price performance was due to its recession proof business of publishing printed and online educational materials, which made up 90% of the group's financial year 2014 revenue," Kenanga Investment Bank Bhd wrote in a note to clients today.
Kenanga said it had a "trading buy" call for Sasbadi shares, with a target price of RM2.68.
At 2.38pm, Sasbadi pared gains at RM2.49, with 335,200 shares done. Year-to-date, Sasbadi's shares have gained 68.24%, outperforming the FBM KLCI's 1.01% decline.
(Note: The Edge Research's fundamental score reflects a company’s profitability and balance sheet strength, calculated based on historical numbers. The valuation score determines if a stock is attractively valued or not, also based on historical numbers. A score of 3 suggests strong fundamentals and attractive valuations.)