CIMB has maintained its “neutral" recommendation on SMS Management and Technology while lowering its target price to $4.18 from $4.80 as lead indicators remain “patchy" despite expectations for a recovery in the IT sector in the second half of 2014.
According to CIMB, the consulting, technology and systems integration company’s stock does not offer appeal on a valuation basis with it trading 17x PE and 12 x EBIT.
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Sineva Wilson was a desk editor at The Australian Financial Review.
