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JCY shares slump on bleak PC outlook (5161)
by hlk Mon 10 Sep 2012, 12:49
Shares in computer hard disk drive manufacturer JCY International Bhd
fell 4.9 percent on concerns of a slowdown in personal computer (PC)
sales worldwide.
JCY dropped as low as RM0.97 per share.
Hong Leong Investment Bank cut its target price on JCY to RM1.23 from
RM1.58 on expectations that shares would come under further pressure
from weaker third-quarter results and PC makers Hewleet Packard Co and
Dell Inc warning of subdued sales globally.
The investment bank
kept a neutral call on the stock, saying it does not discount the
possibility of JCY being taken private at such low valuations. --
Reuters
fell 4.9 percent on concerns of a slowdown in personal computer (PC)
sales worldwide.
JCY dropped as low as RM0.97 per share.
Hong Leong Investment Bank cut its target price on JCY to RM1.23 from
RM1.58 on expectations that shares would come under further pressure
from weaker third-quarter results and PC makers Hewleet Packard Co and
Dell Inc warning of subdued sales globally.
The investment bank
kept a neutral call on the stock, saying it does not discount the
possibility of JCY being taken private at such low valuations. --
Reuters
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