Aeon Co. (M)'s 4Q Earnings May Remain Strong -- Market Talk

Dow Jones10:06

0206 GMT - Aeon Co. $(M)$'s 4Q earnings could remain strong, helped by likely higher consumer spending following Malaysia's planned civil servant salary hike, Maybank IB analyst Jade Tam says in a note. Seasonally stronger sales during the year-end festive season could also help support the supermarkets owner's 4Q earnings, she reckons. Aeon could also benefit from recent government initiatives designed to boost consumers' disposable income, she adds. Tam raises Aeon's 2024-2026 earnings forecasts by 7%, 4% and 4%, respectively, after 3Q earnings beat expectations. Maybank lifts the stock's target price to MYR1.95 from MYR1.86, while maintaining a buy rating. Shares are 0.7% higher at MYR1.47.(yingxian.wong@wsj.com)

(END) Dow Jones Newswires

November 21, 2024 21:06 ET (02:06 GMT)

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