KOBAY

Sector: Industrial Products & Services

Analyzed on 14/11/2021

KOBAY is definitely one of the top performers in Bursa for year 2021. After finding support at its EMA25 (blue line), KOBAY has broken its previous high range of RM5.70. Since Jan-2021, KOBAY has rocketed more than 500% to close at RM5.75 on last Friday. Technically, KOBAY is likely to resume its uptrend. Traders could take RM5.70 and EMA25/50 as support levels.

One of the key drivers for KOBAY’s significant rise in share price is that its manufacturing segment improved thanks to rising demand in the semiconductor industry and turnaround of its aerospace business. HLB sees positive outlook for the company, thus giving it a target price of RM7.00. KOBAY current FPE valuation is at 51 times.

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