CIMB Securities has increased its target price for Malaysian Pacific Industries Bhd (MPI) to RM57, up from RM50, while maintaining a “Buy” recommendation. This revision is based on growing confidence in demand for MPI’s products driven by advancements in artificial intelligence (AI). The firm noted improved visibility into this AI-related demand as a key factor in its assessment. Additionally, CIMB highlighted a more positive investor outlook towards the broader technology sector. The upgrade suggests an expectation of increased stock value for MPI as AI applications expand. This positive outlook reflects MPI’s positioning to benefit from the growing AI market. Investors are likely to view this as a bullish signal for the company’s future performance.