Hills still undervalued: CIMB

CIMB Securities hiked its target price on the stock after the company divested its costly steel business and made two acquisitions in the healthcare sector.

Hills Holdings's share price still has room to make significant gains over the next 12 months despite surging 150% since last October, according to CIMB Securities.

The broker increased its target price on the stock by 22 cents to $2.10, at the upper end of consensus forecasts, and retained its "outperform" rating after applauding Hills Holdings' acquisitions and divestments announced last week.

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