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NewsHwangDBS cuts MBM Res to ’hold’ (5983)
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HwangDBS cuts MBM Res to ’hold’ (5983)
by hlk Mon 27 Aug 2012, 13:10
HwangDBS Vickers Research downgraded motor manufacturer MBM Resources
Bhd to ’hold’ from ’buy’, saying that the stock’s valuations have
peaked despite its stable fundamentals.
“We downgrade MBM to hold because the earnings upside have been largely priced in,” HwangDBS said in a note today.
The research house added that the stock is currently trading near its peak with a limited 14 per cent upside.
HwangDBS
however raised MBM’s target price to RM4.30 per share from RM3.80,
adding that catalysts include a planned vehicle assembly plant and
stronger demand for its alloy wheel business. - Reuters
Bhd to ’hold’ from ’buy’, saying that the stock’s valuations have
peaked despite its stable fundamentals.
“We downgrade MBM to hold because the earnings upside have been largely priced in,” HwangDBS said in a note today.
The research house added that the stock is currently trading near its peak with a limited 14 per cent upside.
HwangDBS
however raised MBM’s target price to RM4.30 per share from RM3.80,
adding that catalysts include a planned vehicle assembly plant and
stronger demand for its alloy wheel business. - Reuters
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