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Maybank IB upgrades Litrak to “Buy” on recent fall in stock price.

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Maybank IB upgrades Litrak to “Buy” on recent fall in stock price. Empty Maybank IB upgrades Litrak to “Buy” on recent fall in stock price.

Post by Cals Mon 10 Feb 2014, 11:36

Maybank IB upgrades Litrak to “Buy” on recent fall in stock price.
Business & Markets 2014
Written by Jonathan Gan of theedgemalaysia.com   
Monday, 10 February 2014 11:33

KUALA LUMPUR (Feb 10): Maybank IB Research has upgraded its rating for Lingkaran Trans Kota Holdings (Litrak) to “Buy” from hold with an unchanged target price of RM 4.45 per share.
In a note today, the research house said that the recent 11% fall in share price since February 4 offers an emerging value for the stock.
The research house added that this was likely due to the concerns on substantial toll rate hikes for major toll roads in the country.
However this has now being mitigated since the government had announced on February 5th that there will be no toll rate increases this year in helping the public cushion the impact of the rising cost of living.
Analyst Wong Chew Hann of Maybank IB said “With the recent fall in its share price, the stock now offers an attractive 10% upside to our target price and dividend yields are more attractive at 4.2% net. We upgrade the stock to buy.”
At 10:47am, Litrak remains unchanged at RM4.05 with 3,500 trades done. 
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