TunePro Group is an underwriter, directly and via reinsurance, of general and life insurance products across the Asia-Pacific region. TunePro operates two core businesses, an online insurance business through which insurance products are sold to customers as part of their online booking process with our online partners, and other general insurance business, currently only in Malaysia. It is a related company of AirAsia Group. Would it fly like AirAsia & AirAsia X shares?
Assuming the recent low of RM1.28 is a failure test, there is a probability of TunePro’s share price going higher. Let’s assume some possible trade parameters:
- Target Price: RM1.57
- Entry Price: RM1.37
- Stop Loss: RM1.28
- 1R (risk): RM0.09
- Expected return-to-risk ratio: 2.22x
Fundamentally, at price-to-book of slightly above 2 times, its current valuation appears to be not stretched, given its double-digit return on equity.
In addition, it has a current average price target of RM1.77 per share and a buy recommendation:
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