Kucingko Bhd Target Price: RM0.585 with 95% Upside

The fair value of KB is targerted at RM0.585, derived by pegging a forward P/E of 21.0x to the FY25 EPS of 2.79 sen. This forward P/E is justified as it aligns with the average current P/E of selected international peers in the 2D animation production industry. With the current share price of RM0.30, this represents a capital upside of 95.0% and a total return of 97.9% including the dividend return. The target price of RM0.585 offers an attractive return for investors looking to capitalise on the growth of the 2D animation industry.