Bursa Alert
Global Market
NewsHot Stock Tan Chong falls 2% despite upgrade
Page 1 of 1
Hot Stock Tan Chong falls 2% despite upgrade
by Cals Thu 11 Apr 2013, 16:04
Hot Stock Tan Chong falls 2% despite upgrade
Business & Markets 2013
Written by Chong Jin Hun of theedgemalaysia.com
Thursday, 11 April 2013 14:10
A + / A - / Reset
KUALA LUMPUR (April 11): TAN CHONG MOTOR HOLDINGS BHD [] fell as much as 2.2% despite analysts' upgrade for the automotive stock amid a favourable operating backdrop.
At 12.30pm, Tan Chong settled at RM5.48 with some 171,000 shares done. The seventh-largest decliner across the bourse had fallen as much as 12 sen to RM5.43 earlier.
Despite the weaker share performance, analysts including Maybank Investment Bank Bhd's Liaw Thong Jung believe Tan Chong offers a "strong investment case".
"Tan Chong continues to be our favourite auto stock backed by favourable cost saving from increased exposure of the softening Yen, stronger vehicle sales and undemanding valuations.
"Consistent level of foreign shareholding suggests limited potential sell downs in a consolidating market and room for foreign accumulations" Liaw wrote in a note today.
Liaw who maintained Maybank's "buy" call for Tan Chong has however raised the automotive player's target price to RM6.42 from RM5.90.
Business & Markets 2013
Written by Chong Jin Hun of theedgemalaysia.com
Thursday, 11 April 2013 14:10
A + / A - / Reset
KUALA LUMPUR (April 11): TAN CHONG MOTOR HOLDINGS BHD [] fell as much as 2.2% despite analysts' upgrade for the automotive stock amid a favourable operating backdrop.
At 12.30pm, Tan Chong settled at RM5.48 with some 171,000 shares done. The seventh-largest decliner across the bourse had fallen as much as 12 sen to RM5.43 earlier.
Despite the weaker share performance, analysts including Maybank Investment Bank Bhd's Liaw Thong Jung believe Tan Chong offers a "strong investment case".
"Tan Chong continues to be our favourite auto stock backed by favourable cost saving from increased exposure of the softening Yen, stronger vehicle sales and undemanding valuations.
"Consistent level of foreign shareholding suggests limited potential sell downs in a consolidating market and room for foreign accumulations" Liaw wrote in a note today.
Liaw who maintained Maybank's "buy" call for Tan Chong has however raised the automotive player's target price to RM6.42 from RM5.90.
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 Tan Chong Motor falls 3.4% after zero-growth warning
» Hot Stock Tan Chong falls 1% on RM56m in backdated taxes in Vietnam
» Guan Chong 1Q profit falls 68% y-o-y
» Tan Chong 3Q profit falls 3% on higher taxes
» Tan Chong falls on Proton stake denial
» Hot Stock Tan Chong falls 1% on RM56m in backdated taxes in Vietnam
» Guan Chong 1Q profit falls 68% y-o-y
» Tan Chong 3Q profit falls 3% on higher taxes
» Tan Chong falls on Proton stake denial
Page 1 of 1
Permissions in this forum:
You cannot reply to topics in this forum