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NewsRHB Research maintains Neutral on Hartalega, cuts fair value to RM6.61
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RHB Research maintains Neutral on Hartalega, cuts fair value to RM6.61
by Cals Wed 07 May 2014, 22:51
| RHB Research maintains Neutral on Hartalega, cuts fair value to RM6.61 |
| Business & Markets 2014 |
| Written by theedgemalaysia.com |
| Wednesday, 07 May 2014 08:08 |
KUALA LUMPUR (May 7): RHB Research has maintained its Neutral rating on Hartalega Holdings Bhd with a lower fair value (FV) of RM6.61 (from RM7.40) and said Hartalega reported FY14 results that were below house and consensus expectations.
In a note Wednesday, the research house said this was mainly due to falling average selling prices and an intensifying competitive landscape.
“While we are positive on its NGC, we believe that a timely execution is key in bringing back production growth.
Maintain NEUTRAL, but with a lower RM6.61 FV (from RM7.40) following our earnings downgrade.
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