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TA cuts Sunway REIT to 'sell' (5176)
by hlk Mon 30 Jul 2012, 13:22
KUALA LUMPUR: TA Securities cut its rating on Sunway REIT to 'sell' from 'buy', citing a limited upside on its current share price which surged after the firm released its third quarter results.
In a research note today, TA said Sunway's share price went up 19 per cent since the release of its third quarter earnings in April, and offers a limited upside of 3 per cent.
"At current price, we expect limited capital upside ahead as most of the positives are likely priced in," TA added.
As of 0222 GMT, Sunway REIT share's remained unchanged at RM1.47 per share against the Malaysian benchmark stock index which dropped 0.04 per cent. -- Reuters
In a research note today, TA said Sunway's share price went up 19 per cent since the release of its third quarter earnings in April, and offers a limited upside of 3 per cent.
"At current price, we expect limited capital upside ahead as most of the positives are likely priced in," TA added.
As of 0222 GMT, Sunway REIT share's remained unchanged at RM1.47 per share against the Malaysian benchmark stock index which dropped 0.04 per cent. -- Reuters
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