Should you invest in CTOS now?
If you haven’t been caught up to date yet, a businesswoman in Malaysia has recently won a court case against CTOS for failing to provide accurate credit reports. The high court has ordered CTOS to pay businesswoman Suriati Mohd Yusuf RM200,000 in damages, along with RM50,000 in costs.
Despite uncertainties that arise from this legal challenge, a number of analysts are positive on CTOS Digital Bhd's future. I was doing a little research on what other brokerages have been saying, and some suggest buying, citing a potential favourable outcome in its legal appeal. RHB Research sees an opportunity in the recent sell-off, maintaining a "buy" rating with a revised target price of RM1.77. Hong Leong Investment Bank Research also recommends buying but lowers the target price to RM1.45. Maybank Investment Bank Research downgrades to "hold" with a target price of RM2.10. Kenanga Research remains cautious, maintaining an "underperform" rating with a target price of RM1.15 due to legal challenges.
So, what do you think? Would you buy CTOS shares now?
Despite uncertainties that arise from this legal challenge, a number of analysts are positive on CTOS Digital Bhd's future. I was doing a little research on what other brokerages have been saying, and some suggest buying, citing a potential favourable outcome in its legal appeal. RHB Research sees an opportunity in the recent sell-off, maintaining a "buy" rating with a revised target price of RM1.77. Hong Leong Investment Bank Research also recommends buying but lowers the target price to RM1.45. Maybank Investment Bank Research downgrades to "hold" with a target price of RM2.10. Kenanga Research remains cautious, maintaining an "underperform" rating with a target price of RM1.15 due to legal challenges.
So, what do you think? Would you buy CTOS shares now?
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