KUALA LUMPUR: Maybank Investment Bank has upgraded Media Prima Bhd to “buy” from “sell previously on positive near-term advertising expenditure (adex). The research house expects better sequential earnings ahead for Media Prima, led by adex-friendly events anticipated throughout financial year 2018. Other than adex outlook, Maybank IB believes Media Prima’s value has emerged. Since Media Prima reported poor results in the fourth quarter of last year, its share price has fallen 42 per cent with the company trading at undemanding valuations, Maybank IB said. Maybank IB said Media Prima is also looking to dispose several parcels of land which could record sizeable disposal gains in the near-term.

Source: New Strait Times May 28, 2018 01:52 UTC