One of the hottest IPO in 2024 was 99 Speedmart. At an #IPO price of Rm1.65, the share price rallied post-IPO to a high of RM2.60, a stellar returns of 57%. Since the peak, the share price has corrected of late.

Our analyst Jiahui Tan wrote an IPO note (Tradeview Research very first report since getting the investment advice license) initiating coverage with a buy with a TP of RM1.99 and subsequently revising the TP upwards to RM2.35 when it achieved her TP. Among the other analysts who upgraded their TP further, she maintained her TP and change the call from a buy to hold. It has proven to be the right decision.

The Edge Malaysia sought Jia Hui’s view on the outlook for 99 Speedmart as it approaches its earnings report. Feel free to have a read HERE.

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