KUALA LUMPUR (May 5): Analyst turned less sanguine on stock market operator Bursa Malaysia Bhd, following the release of its first-quarter results, and several rated the stock as a "hold" with target prices (TPs) ranging from RM6.09 to RM6.54. Hong Leong Investment Bank (HLIB) Research also maintained its "hold" call, with a TP of RM6.09, based on 22 times PER pegged to FY2023 earnings per share. “After two prior years of ADTV contraction, we are hopeful for a mild reprieve in FY2023 — we have pencilled in RM2.17 billion. Bursa’s share price was two sen or 0.32% lower at RM6.28 in morning trade on Friday, valuing the local stock exchange at RM5.08 billion. Read also:Bursa Malaysia's 1Q earnings down 17% to RM56m on lower operating revenue
