RHB Research has lowered its target price for Tasco Bhd (TASC.KL) to 62 sen from 66 sen, citing a deteriorating earnings outlook for the Malaysian logistics provider.
The broker reduced its profit forecasts for the company by approximately 7% across the financial years 2027 to 2029, signaling concerns over near-term revenue generation and margin pressure within the sector.
The downgrade reflects a cautious stance among equity analysts covering Malaysian mid-cap stocks.
Tasco, a key player in the country's logistics and supply chain infrastructure, is facing headwinds that have prompted brokers to reassess valuation multiples.
The cut in the target price implies a lower ceiling for the stock in the current market environment, where investors are increasingly scrutinizing earnings visibility.
This move aligns with a broader trend of risk-off sentiment in the Malaysian equity market.