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Banks TP are based on long term, if you read the reports, they mentioned about drilling in Q42020/ 1 or 2 years later.... Don't tell me you are holding for that long if you are looking at TP of banks...
and according to market efficiency theory, the current price have already reflected the information available, which means since all efficient investors have already known the QR in Q3/Q4 will be bad due to Covid, the price discount (drop from 0.4 to 0.12 last time) had already reflected the effect.
Think like this, if you know QR will be bad, do you think when QR is out next time, the price will drop/increase? if yes it's one day thing only. ~just sharing my 2 hairs (cents)
Maybank has TP 0.2......
It is based on 2020F, 2021F and 2022F based on oil price at that time
Note that Velesto is PNB link company.... basically govt owned...
Slowly... First support at 0.17
second support at 0.165
as long as sell pressure go away, it goes up gradually... (sell pressure as in those who see TP of banks without pressing inside and read! Homework do halfway!)