Raise of CTOS Target Price (TP) After the Recent Court Case Victory
According to the Business Times,
the Court of Appeal ruled that businesswoman Suriati Mohd Yusoff failed to make out a case in defamation, negligence, or breach of statutory duty against CTOS, and set aside a lower court's award of RM200,000 in damages to Suriati over an inaccurate credit rating. (View original at https://www.nst.com.my/business/corporate/2024/07/1074462/analysts-raise-ctos-digital-target-prices-after-it-quashes)
the Court of Appeal ruled that businesswoman Suriati Mohd Yusoff failed to make out a case in defamation, negligence, or breach of statutory duty against CTOS, and set aside a lower court's award of RM200,000 in damages to Suriati over an inaccurate credit rating. (View original at https://www.nst.com.my/business/corporate/2024/07/1074462/analysts-raise-ctos-digital-target-prices-after-it-quashes)
Source: The Edge Malaysia
TP:
Hong Leong Bank – from RM1.50 to RM1.60
RHB Bank – from RM1.77 to RM1.84
Hong Leong Bank – from RM1.50 to RM1.60
RHB Bank – from RM1.77 to RM1.84
Personal Opinion;
1. Based on the news, CTOS will not compensate the amount mentioned above to the respective businesswoman, nor will it affect its crediting score business.
2. From FY2021 to FY2023 even to the 1Q of 2024, the group has outperformed in terms of its revenue and the PAT, and thus, it may be deemed as undervalued referencing the TP given by the banks.
3. Whenever an individual would like to request for loan from the bank, it is necessary to check their CTOS report, and the group’s revenue is expected to grow from time to time, encompassing also foreign expansion such as Thailand.
1. Based on the news, CTOS will not compensate the amount mentioned above to the respective businesswoman, nor will it affect its crediting score business.
2. From FY2021 to FY2023 even to the 1Q of 2024, the group has outperformed in terms of its revenue and the PAT, and thus, it may be deemed as undervalued referencing the TP given by the banks.
3. Whenever an individual would like to request for loan from the bank, it is necessary to check their CTOS report, and the group’s revenue is expected to grow from time to time, encompassing also foreign expansion such as Thailand.
Disclaimer: The above content is not an investment advisory service, and does not purport to tell or suggest which securities or stocks customers should buy or sell for themselves. It should not be assumed that the methods, techniques, or indicators presented above will be profitable or will not result in losses. You should not rely solely on the information in making any investment. Rather, you should use the information only as a starting point for doing additional independent research to allow you to form your own opinion regarding investments
By: Jshen Ng
Disclaimer: Community is offered by Moomoo Technologies Inc. and is for educational purposes only.
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Jshen Ng OP Nzm Nhr : You may refer to this website, CTOS’ recent sell-off overdone, but court ruling still poses challenge to group’s business model — analysts
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