Monday, April 18, 2011

CIMB a 'buy', says Goldman Sachs

CIMB Group Holdings Bhd, Malaysia’s second-biggest bank, rose to its highest level in more than a week after the stock was rated “buy” in a new coverage at Goldman Sachs Group Inc, which cited the company’s “high-growth regional footprint.”

The stock climbed 1.1 per cent to RM8.32 at 10:37 a.m. local time in Kuala Lumpur trading, set for its highest close since April 7.

The brokerage has a share-price forecast of RM10 for CIMB, analysts led by David Ng wrote in a report today. -- Bloomberg

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