KUALA LUMPUR (Oct 25): CIMB Investment Bank Bhd raised its target price for Bursa Malaysia Bhd shares to RM9 from RM8.86 after taking into account the stock exchange operator and regulator's 2017 earnings outlook. In a note today, CIMB analyst Winson Ng said CIMB, however, maintained its "hold" rating on Bursa Malaysia shares. Yesterday, Bursa Malaysia said net profit fell to RM44.04 million in the third quarter ended Sept 30, 2016 (3QFY16) from RM51.47 million a year earlier. "At 67% of our full-year forecast and 71% of Bloomberg consensus estimates, Bursa's 9MFY16 net profit was below expectations," he said. At 12:30pm, Bursa Malaysia shares fell five sen or 0.6% to RM8.75 for a market capitalisation of RM4.69 billion.

Source: The Edge Markets October 25, 2016 04:52 UTC