Ranhill's valuation running ahead of fundamentals – Analysts

As such, BIMB Securities had downgraded Ranhill to "Sell" from "Hold", despite raising its target price (TP) to RM2.39, from RM1.94, as the group trades at 30.1 times price-earnings ratio (PER), a substantial premium to its historical mean trailing PER of 17.2 times.

"We view the current valuations as demanding given our expectation for core earnings to decline 27.6 per cent Y-o-Y in FY27F as water margins normalize from FY26's elevated levels.

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