Analysts see MyEG as hidden gem poised to soar amid Covid-19 pandemic | Malay Mail

Wednesday, 02 Sep 2020 03:27 PM MYT

KUALA LUMPUR, Sept 2 — While healthcare stocks are hogging investors’ attention amid the ongoing Covid-19 pandemic, some analysts have expanded their focus to other stocks with strong upside potential.Among the most bullish is CGS-CIMB Securities Sdn Bhd, which expects MyEG share price to rise by another 25 per cent within the next few months, with a RM1.80 target on a continued strong revenue stream from its foreign worker-related services.

Other analysts positive towards MyEG include MIDF Research, Kenanga Research and Rakuten Trade Research, indicating the stock “is on the verge of a potential breakout”. The government is now allowing employers to rehire foreign workers who have lost their jobs recently but are still residing in Malaysia with a legal working permit within the same sector, thus restoring a key revenue stream for MyEG.

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