MBSB maintained Buy on Inari stock at MYR 2.95 target

Published on 10/14/2026 at 07:18 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

FY2026 net income fell 41.70 percent to MYR 127.50 million. Inari stock was last at MYR 2.69 on October 14, 2026, 6.60 percent below its 52-week high.

Analyst view and earnings reset

A September 29 note from MBSB retained a Buy view and a MYR 2.95 target.
FY2026 net income fell 41.70 percent to MYR 127.50 million.
Inari stock was last at MYR 2.69 on Bursa Malaysia on October 14, 2026 at 12:29 p.m. MYT.

Inari, MYQ0166OO007, Illustration mit AI erstellt.

MBSB maintained a Buy view on Inari Amertron stock at a MYR 2.95 target in a note dated September 29, 2026. The call points to a possible recovery in radio-frequency content, optoelectronics demand and profit margins above 20 percent.

Analyst sees recovery ahead

According to The Edge Malaysia on September 29, 2026, MBSB kept its Buy call and unchanged MYR 2.95 target for Inari. The research house identified radio-frequency business recovery, higher content and optoelectronics prospects as the main reasons for its stance.

The same report placed a risk marker beside that recovery thesis. MBSB said a shortage of skilled talent could constrain semiconductor earnings growth in the second half of 2026, while valuations across Malaysian outsourced semiconductor assembly and test companies had already reflected part of the expected rebound.

Profit reset shapes valuation

Inari's latest full-year picture is weaker than the analyst thesis. The Edge Malaysia reported that net income for fiscal year 2026 ended June 30, 2026, fell 41.70 percent to MYR 127.50 million from MYR 218.75 million in fiscal year 2025.

Revenue also declined to MYR 1,187.25 million in fiscal year 2026 from MYR 1,351.94 million in fiscal year 2025, a 12.18 percent decrease. Reuters lists the fiscal year 2026 figures as MYR 1,187.254 million of revenue and MYR 127.497 million of net income.

The company describes itself as an outsourced semiconductor assembly and test provider serving radio frequency, fiber-optics, optoelectronics, memory, sensor and custom integrated-circuit applications, according to Inari Amertron Berhad. That business mix makes the margin reference important: a rebound must improve both demand and conversion into profit.

Stock remains below yearly high

Inari stock was last at MYR 2.69 on Bursa Malaysia on October 14, 2026 at 12:29 p.m. MYT. The 52-week range was MYR 1.21 to MYR 2.88, leaving the price 6.60 percent below the yearly high.

The MYR 2.95 analyst target stands 9.67 percent above the MYR 2.69 market price. For investors, the key comparison is therefore between a 41.70 percent annual net-income decline and MBSB's expectation that margins can rise above 20 percent.