Bursa Alert
Global Market
NewsHot Stock Globetronics falls 4.49% on downgrade, target price cut
Page 1 of 1
Hot Stock Globetronics falls 4.49% on downgrade, target price cut
by Cals Sat 30 Apr 2016, 03:00
- Hot Stock
[size=28]Globetronics falls 4.49% on downgrade, target price cut
By Surin Murugiah / theedgemarkets.com | April 29, 2016 : 9:53 AM MYTKUALA LUMPUR (April 29): Globetronics Technology Bhd fell 4.49% this morning after MIDF Research downgraded the stock to Neutral (from Buy) and cut its target price to RM4.07 (from RM6.74).
At 9.31am, Globetronics lost 17 sen to RM3.62 with 1.53 million shares done.
In a note today, the research house said Globetronics’ sensor division led the fall in 1Q16 earnings contribution.
It said the inability to achieve economies of scale due to poor demand – profit margin negatively impacted
“Demand is expected to continue to be weak in 2Q16
“Any possible increase in volume only likely to happen towards year end,” it said.
[/size]
Cals- Administrator
- Posts : 25277 Credits : 57721 Reputation : 1766
Join date : 2011-09-08
Location : global
Comments : “My plan of trading was sound enough and won oftener that it lost. If I had stuck to it Iâ€
d have been right perhaps as often as seven out of ten times.â€
Stock Exposure : Technical Analysis / Fundamental Analysis / Mental Analysis
Similar topics» Hot Stock Uzma falls 4.61% on downgrade, target price cut
» Hot Stock Globetronics rises 4.5% on target price upgrade, firmer outlook
» Hot Stock Oldtown falls 3.7% on target price cut
» Wah Seong price target cut, stock falls
» Hot Stock Tomypak falls 5.38% on lower 2Q earnings, target price cut
» Hot Stock Globetronics rises 4.5% on target price upgrade, firmer outlook
» Hot Stock Oldtown falls 3.7% on target price cut
» Wah Seong price target cut, stock falls
» Hot Stock Tomypak falls 5.38% on lower 2Q earnings, target price cut
Page 1 of 1
Permissions in this forum:
You cannot reply to topics in this forum