KUALA LUMPUR (May 6): MIDF Research has maintained its “Neutral” rating on Fraser & Neave Holdings Bhd (F&N) with a higher target price of RM18.98 (from RM16.73).

In a note today, the research house said F&N’s (Fundamental: 2.10; Valuation: 1.10) 2QFY15 net profit grew by 3.5% year-on-year to RM70.5 million, meeting estimates

“Revenue however grew at a slower pace of 0.5% y-o-y to RM940 million.

“Proposed interim dividend of 22 sen per share

“Maintain Neutral with a rolled-forward target price of RM18.98,” it said.

(Note: The Edge Research's fundamental score reflects a company’s profitability and balance sheet strength, calculated based on historical numbers. The valuation score determines if a stock is attractively valued or not, also based on historical numbers. A score of 3 suggests strong fundamentals and attractive valuations. Go to www.theedgemarkets.com for details on a company’s financial dashboard.)